FxWirePro
Short

AUD/USD breaks 61.8% Fib, on track to test 78.6% Fib at 0.7043

FX:AUDUSD   Australian Dollar/U.S. Dollar
279 1 9
AUD/USD             extends decline, hits fresh 11-week lows at 0.7199, in a knee-jerk reaction to weak Australian jobs report.

Australia's unemployment rate held steady at 5.7% in March, while 10,800 jobs were added, below expectations of a 12,000 net increase.

The labor force participation rate unexpectedly fell from 64.9% in March to 64.8% last month, the lowest in almost a year.

Price action has dipped below weekly cloud. Technicals support further downside, pair on track to test 78.6% Fib at 0.7043.

Hawkish FOMC minutes document will continue to underpin the buck at the expense of the AUD.

AUD/USD             finds immediate support at 0.71 (double bottom Feb 15th and 29th), while immediate resistance is seen at 0.7212 (61.8% Fib).

Good to short rallies around 0.72/0.7210, SL: 0.73, TP: 0.7145/0.71/0.7045
adamzahra
6 months ago
this pair
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out