AUD keeps downward trend against USD, the pair remains within the current channel.
Investors are focused on the night spike in the exchange market. The main movement was in USD/JPY, although today is a bank holiday in Japan. However, all pairs received a boost: so, "the Australian" fell against the American dollar by 200 points in minutes, but then, in a couple of hours, this was almost completely won back. Spike time, narrow market, and closed main exchanges, most likely, speak about a large player entering the market and a sharp increase in demand for the Japanese yen as a "safe haven".
Today, attention should be paid to the US labor market.
Support and resistance
Despite the sharp change in price at the beginning of the day, nothing has changed technically: the pair continues to trade within the wide downward channel. After testing its lower border at 0.6770, the instrument will tend to 0.7020, 0.7050. After that, AUD will again decline against the strengthening USD. In the medium term, target levels are 0.6500, 0.6420.
Support levels: 0.6790, 0.6905, 0.6850, 0.6790, 0.6770, 0.6600, 0.6500, 0.6420.
Resistance levels: 0.7020, 0.7050, 0.7100, 0.7150, 0.7180, 0.7300.
Short positions may be opened from the current level with targets at 0.6770, 0.6600, 0.6500, 0.6420 and stop loss at 0.7090.
Australian vs US Dollar
|Take Profit||0.6770, 0.6600, 0.6500, 0.6420|
|Support levels||0.6420, 0.6500, 0.6600, 0.6770, 0.6790, 0.6850, 0.6905, 0.6790, 0.7020, 0.7050, 0.7100, 0.7150, 0.7180, 0.7300|
The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.