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Forex technical analysis: AUDUSD up on the day but gives back employment gains

Discussion in 'Technical Analysis' started by ForexLive, Aug 18, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Back at the 100 and 200 hour MA The AUDUSD raced higher after better than expected employment data crossed the wires during the Asian Pacific session. The price rise looked to test a ceiling area at the 0.7722-0.77245 level. but stalled right at the level. The correction began. Admittedly, although the number of new jobs created was higher at 26.2K, the mix was not all that great as full time fell by 45.4K and part time increased by 71.6K. So there may have been some fundamental justification.

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