ForexTime - Analytics

ForexTime

728.50 6.00/10
76% of positive reviews
Real

AUD struggles in market enviroment

The Australian dollar got some positive news for a change as it faced off against the USD and won a round for the bulls after a month of bearish pressure. This has been positive on the fact that the Australian economy in the employment sector has performed better than most expected with Australian employment coming in at 22.6K ( 20K exp) and the unemployment rate lifting to 5.6% (5.5% prev) on the charts as a result. For now the Australian dollar has been protected by a positive government, but at the same time Labour is coming through a journey of not delivering on promises, so it's likely to happen despite the constant hospitality.

The AUDUSD continues to climb high, but only on the back of weaker currencies as of late. During this battle a large number of forces were ordered to resemble, but no order has been given and it seems all the more likely we've been to our lovely likely. The AUDUSD failed to make it through resistance at 0.7506 as traders are quite bullish above the outré out of place. Case and example if the Muslim example of expansion in the middle east, which is fulminated  by stride and haw things have ended on the other side.

The other key mover has been EURUSD which have so far leapt ahead with a bullish sense about it. Despite the fact that Arab interests have tried to keep it reigned in so not to spook markets from higher highs it has seen the opposite as it has contined to fall. 

One of the key areas has been support has been 1.1760 which has so far defending againt any and all bearish movements lower on the charts. If the EURUSD swings upwards it may come into contact with resistance at 1.1825 in the long run for EURUSD traders,

Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.



To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree