6 Aug 2015
AUD/USD: ready for the jobs data?
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7350 with a high of 0.7359 and a low of 0.7350.
AUD/USD is a poor performer in the broader trend and tonight will hold a series of key data ahead of the Nonfarm Payrolls as the final showdown for the major.
Today, the ADP data arrived in the US session, below the psychological 200k mark and came in as 185k vs 215k which puts the Nonfarm Payrolls in the ball park of around 215k vs a consensus of 225k. All in all, the number is not a huge blow for the dollar and markets now await Friday for the showdown.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
Meanwhile, while markets have digested and positioned accordingly to the change of tone in the background from the RBA with respect to the price of the Aussie, which is supporting the currency, for the calendar today in Australia we have the Aussie jobs data with the unemployment report expected at 6% and to match last month's.
AUD/USD bulls target the 55 DMA, bears to two-year channel support
Despite the minor recoveries of late, AUD/USD remains directly offered below the downtrend at 0.7438 and rallies will find initial resistance. Above 0.7454 may trigger a further recovery to the 0.7584 55 day ma. Bear looks for territory to the two-year channel at 0.7188 and the major support in the form of a long term Fibonacci retracement at 0.7185 and the 14 year support line at 0.7144.
AUD/USD is a poor performer in the broader trend and tonight will hold a series of key data ahead of the Nonfarm Payrolls as the final showdown for the major.
Today, the ADP data arrived in the US session, below the psychological 200k mark and came in as 185k vs 215k which puts the Nonfarm Payrolls in the ball park of around 215k vs a consensus of 225k. All in all, the number is not a huge blow for the dollar and markets now await Friday for the showdown.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
Meanwhile, while markets have digested and positioned accordingly to the change of tone in the background from the RBA with respect to the price of the Aussie, which is supporting the currency, for the calendar today in Australia we have the Aussie jobs data with the unemployment report expected at 6% and to match last month's.
AUD/USD bulls target the 55 DMA, bears to two-year channel support
Despite the minor recoveries of late, AUD/USD remains directly offered below the downtrend at 0.7438 and rallies will find initial resistance. Above 0.7454 may trigger a further recovery to the 0.7584 55 day ma. Bear looks for territory to the two-year channel at 0.7188 and the major support in the form of a long term Fibonacci retracement at 0.7185 and the 14 year support line at 0.7144.