Strong Employment a Boost to the AUD/USD

Posted Thursday, September 13, 2018 by
Rowan Crosby • 1 min read

The AUD/USD had a strong bounce off the 0.7100 level and it appears there might be more upside ahead.

The latest employment data has shown a big beat with 44K new jobs created. The AUD/USD is up around 0.35% on the day to date.

This comes on the back of a rally thanks to some positive trade talk coming by way of the US. Where there was a report that suggested there might be a meeting on the cards to try and work on a deal.

Asian equities are weak at the moment and they are stuck in the red on the session. While the Aussie is fighting back.


Aussie Outlook

The AUD/USD is now at the major level of 0.7200 after we jumped all the way back from the lows around 0.7100.

This level has been holding us down for some time, so I don’t think we’ll see a rip through it at all.

Again, while this jobs report is strong, it is still the USD that is leading the charge here.

AUD/USD – 240 min.
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
The USD to AUD rate has been moving within a narrow 100-pip range, with moving averages (MAs) acting as barriers for AUD/USD.
6 days ago
0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments