Hey guys,
AUD/USD is marginally higher on Friday, still headed toward the third weekly decline in a row. The pair bottomed at 0.7367 before the release of the NFP report and then bounced to the upside. The recovery was capped below 0.7420.The pair is trading at 0.7410/15, 75 pips below the level it closed a week ago. The Aussie is about to post the lowest weekly close since early January. On a wider perspective, two relevant support levels could be seen at 0.7340 and then around 0.7150.If the Aussie manages to rise back above 0.7500, it could remove the short-term bearish pressure and gain support for a consolidation or a recovery. The Aussie was the worst performer during the week and remains under pressure affected by many factors, that include the decline in commodity prices, some warnings from the RBA and risks from China.The decline in the AUD/USD pair has been taking place despite a weak greenback. The US dollar index fell on Friday below 98.50 hitting the lowest level since November.
Note: Everything works with Best money management.
Note: Please leave comments for any query.
Disclaimer: Trade at your own risk.
Good Luck...!!
Regards,
Growing Forex Team
AUD/USD is marginally higher on Friday, still headed toward the third weekly decline in a row. The pair bottomed at 0.7367 before the release of the NFP report and then bounced to the upside. The recovery was capped below 0.7420.The pair is trading at 0.7410/15, 75 pips below the level it closed a week ago. The Aussie is about to post the lowest weekly close since early January. On a wider perspective, two relevant support levels could be seen at 0.7340 and then around 0.7150.If the Aussie manages to rise back above 0.7500, it could remove the short-term bearish pressure and gain support for a consolidation or a recovery. The Aussie was the worst performer during the week and remains under pressure affected by many factors, that include the decline in commodity prices, some warnings from the RBA and risks from China.The decline in the AUD/USD pair has been taking place despite a weak greenback. The US dollar index fell on Friday below 98.50 hitting the lowest level since November.
Note: Everything works with Best money management.
Note: Please leave comments for any query.
Disclaimer: Trade at your own risk.
Good Luck...!!
Regards,
Growing Forex Team
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Possibility Of The Correction To The Upside Which Will Be Short Lived,If You Have A Strategy For That Go Ahead & Take That Trade Upside.
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Weekly Perspective 15-may-19-may 2017.
