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12 Mar 2015
AUD/USD: All lined up for jobs - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the Australian dollar trades near an almost 6-year low against the greenback, posted at 0.7559.
Key Quotes:
"Commodity currencies have finally capitulated to the dollars' strength, weighed also by a daily slide in metals."
"During the upcoming hours, Australia will release its monthly employment report for February, with the unemployment rate expected at 6.3% against previous 6.4% and the employment change expected at 15.0K from previous -12.2K. Such a strong reading, or a better one, may bring some relief to Aussie, but the overall trend is bearish, which means chances are of selling interest surging after the dust settles."
"In the meantime, the 1 hour chart shows that the technical indicators have turned flat below their mid-lines, whilst the 20 SMA maintains a bearish slope above the current price, keeping the pressure towards the downside."
"In the 4 hours chart the technical indicators have also lost directional strength, but remain near oversold levels, whist the 20 SMA maintains a strong bearish slope currently around 0.7660."
Key Quotes:
"Commodity currencies have finally capitulated to the dollars' strength, weighed also by a daily slide in metals."
"During the upcoming hours, Australia will release its monthly employment report for February, with the unemployment rate expected at 6.3% against previous 6.4% and the employment change expected at 15.0K from previous -12.2K. Such a strong reading, or a better one, may bring some relief to Aussie, but the overall trend is bearish, which means chances are of selling interest surging after the dust settles."
"In the meantime, the 1 hour chart shows that the technical indicators have turned flat below their mid-lines, whilst the 20 SMA maintains a bearish slope above the current price, keeping the pressure towards the downside."
"In the 4 hours chart the technical indicators have also lost directional strength, but remain near oversold levels, whist the 20 SMA maintains a strong bearish slope currently around 0.7660."