AUD/USD responds positively to Australian labour data

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 32% 32% 0.00%
Shorts 68% 68% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Despite the relatively uneventful trading since Tuesday, the Aussie plunged down to the 0.7970 mark mid-Thursday. This strong bearish momentum proved to be no opponent to the 200-hour SMA, as it was dashed through without any hindrance. 

Meanwhile, better-than-expected Australian labour data early on Thursday resulted in a surge of 32 pips which was later halted at the 200-hour SMA. Being reinforced by the 55-hour moving average, this mark might be an unbreakable resistance in this session; thus, providing another upside confirmation of a descending channel. 

In case this level is breached, the Aussie's appreciation might not be long-lived, as the 200-hour SMA and the weekly PP are located nearby.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.