AUD has Broken Out: Are we Headed Back to 80 cents? - Forex News by FX Leaders

AUD has Broken Out: Are we Headed Back to 80 cents?

Posted Thursday, August 17, 2017 by
Rowan Crosby • 1 min read

I’ve been speaking a lot about the potential of the Aussie to continue to break down longer term and make it to the sub-75 cent area.

It seems to me that the USD has different ideas.

After the release of the FOMC minutes, the AUD/USD was sharply higher and has broken out of the downward channel that had been serving us well and helping us identify a number of great opportunities.

AUD employment

Jobs Data the Key

We have the employment data out of Australia due at 11:30am local time.

That might be the deciding factor the fate of the Aussie for today’s session. Any positive outcome will certainly bring 80 cents back into focus.

A negative result means that we might pull back into the channel.

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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