News and Market Analysis

The Asian Markets – AUD/USD
by

Today in the Asian markets we see the AUD/USD flirting around the 0.7300 after recovering from its low of 0.7257. However, any attempt to move beyond this point has been met with much resistance. Even positive unemployment data could’t keep the bears away after Australia recorded only 6.8% unemployment as opposed to 7.5%. Technically its a hard one to trade this week however, with the weak sentiment surrounding the pair we could see a bearish twist and see it take a dive below 0.7257 yesterday low. Should this happen you may want to consider a short term target of 0.7215. On the flip side should it break the yesterdays high at 0.7352 consider 0.7350 as your next level of resistance.

 

#AUD #AUDUSD #unemployment #asiasession #ACM #AsiaCapitalMarkets,