EXNESS - Analytics

    EXNESS

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    Real

    The labor market data for Australia supported the Aussie

    Buy on a level breakthrough of 0.6972 with 0.7035 target. Stop loss = 0.6922.

    Reason for the trading strategy

    In December, Australia's employment level declined by 1 thousand, with a forecast of a decrease by 11 thousand; the unemployment level remained unchanged at 5.8%, with a forecast of a growth to 5.9%. The data, which was better than expected, reduced the likelihood of further reduction of the key interest rate in Australia and allowed the Aussie to rebound from the 2016 low.

    AUDUSD, H1

    AUDUSD


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