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AUD/USD bears in control ahead of Nonfarm Payrolls

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 5, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - AUD/USD is currently trading at 0.7133 with a high of 0.7152 and a low of 0.7126.

    AUD/USD has been on a bearish run and comments from Stevens underpinned the downside intentions of the bears with dovish commentary while still not signalling that a rate cut is necessarily on the cards.

    The markets are however expecting action from the Fed in December and all data is being closely scrutinized to check that it is released within the brackets of where the FOMC anticipate them fueling inflation towards their target of 2% in the medium term and supporting an improved jobs market. The Nonfarm Payrolls is expected to a positive and an prelude to the FOMC meeting in December for a possible hike for the Fed.

    AUD/USD levels

    Technically, the pair trades with a bearish bias and the 0.7066 is the key target on a break below the 0.71 handle. A break below 0.7080/66 would be significant and opens the medium term target for the September lows at 0.6940 with 0.6774 2004 low on the wide.
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