32,600 Jobs Added! Aussie Dollar Skyrockets!
The Australian dollar has surged, driven by an impressive employment report that far exceeded expectations. In the month of June, Australia's net employment rose by a staggering 32,600 compared to the previous month, surpassing estimates by more than double.
This development propelled the Aussie currency up by over...
As you can see that, AUDUSD has created Flag and Pole pattern and breakout was happening at drawn level, if it gives retest at at same level then we can plan for selling side. Plan your trade accordingly...
Looking for possible selling continuation on the pair to retest the previous support lower.
This will as well be as a target point of the target for the bearish flag.
A 2hr break below the support at 0.68610 would be a good confirmation on the sell bias of the pair and act as an entry point of the trade
A break and close above the resistance at 0.69970 might...
Reason for selling AUDUSD
Fundamental factors are supporting the USD as the recent inflation figure beats the expectation 4.16% which causes the buying of USD against major pairs.
It has reached lower trendline area.Sell AUDUSD when it reaches around the .618 Fibonacci level and primary target would be 1.272 Fibonacci.
Sell limit @ 0.77770