AUD/USD moves are dictated by employment data

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 37% 37% 0.00%
Shorts 63% 63% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Sell
Stochastic (5; 3; 3) Sell Buy Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The Australian Dollar was making one attempt after another to pierce the weekly pivot points resistance against the US Dollar at the 0.7977 level. That move came as a part of the rebound against the dominant pattern's lower trend line. However, at 12:30 GMT the monthly US employment data set was released. The fundamental data release strengthened the US Dollar to such an extent that the AUD/USD currency exchange rate fell down to the 0.7910 mark. However, that does not change the previous forecast. The currency pair is still set to surge in the borders of the descending channel pattern. Although, the rate will once more have to face the 55, 100 and 200-hour simple moving averages. Meanwhile, markets need to see, where the next week's pivot levels will be located at.

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