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Trading news
16 Apr 2015
AUD/USD rallies up to R2 on decent Aus jobs data
FXStreet (Guatemala) - AUD/USD is strongly bid scoring a high of 0.7778 so far on Aussie data and lows of 0.7671 in Asia.
AUD/USD has rallied, extending its near term lead on the greenback, in a market that has stepped away from the US dollar and this current surge to the upside has broken back in to less bearish grounds on the 4 hour chart and levels last traded in March. The rally is up to R2 but is in breach of RSI 14 70 and indicates that there could be some work to do to keep the bears out in an over bought territory scenario.
The event was key and will be closely monitored by the RBA in respect to their next meeting, coming in the form of the jobs data that printed a decent result for the economy with the unemployment figures for the month of March dropping back to 6.1 per cent. Technically, there is still ground to be done if the overall medium term picture is to get out of the broader bearish picture in the major while the February and March highs stand at 0.7912/38 and could be tough resistance on a daily chart closing basis.
AUD/USD has rallied, extending its near term lead on the greenback, in a market that has stepped away from the US dollar and this current surge to the upside has broken back in to less bearish grounds on the 4 hour chart and levels last traded in March. The rally is up to R2 but is in breach of RSI 14 70 and indicates that there could be some work to do to keep the bears out in an over bought territory scenario.
The event was key and will be closely monitored by the RBA in respect to their next meeting, coming in the form of the jobs data that printed a decent result for the economy with the unemployment figures for the month of March dropping back to 6.1 per cent. Technically, there is still ground to be done if the overall medium term picture is to get out of the broader bearish picture in the major while the February and March highs stand at 0.7912/38 and could be tough resistance on a daily chart closing basis.