AUD/USD reached an obstacle

AUD/USD reached an obstacle

Trade idea 

SELL 0.7010; TP1 0.6999; TP2 0.6955; SL 0.7025 

The market awaits the release of the US nonfarm payrolls at 15:30 MT time today. According to the consensus forecast, there will be a slight improvement in the American economic figures. To bet on the data that are in line with this forecast or better than it, one can make a bearish bet on AUD/USD. 

The pair failed to close above the declining 100-day MA on Thursday forming a candle which is very similar to a “shooting star”. In addition, AUD/USD met the downtrend resistance line since 2018. As a result, the way down is the easiest path for the AUD. 

AUDUSD.png

Similar

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

Latest news

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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