Aussie/USD had a hard time moving above the round 0.73 level. It had capped the pair on an initial recovery attempt and also good news from Australia such as the robust GDP report only sent it to this resistance line but no further. The Aussie hesitated also after the poor NFP report. The US economy gained only 38K jobs in May, a figure that is the worst read since September 2010 and in many cases smaller than some job gains in Australia, a country that has less than the tenth of the population. But eventually, and thanks to another poor report from the ISM Non-Manufacturing PMI, AUD/USD pushed higher. The breakout sends the pair to the 0.73 to 0.7375 range. Above 0.7375 we find 0.7440 as a stepping stone to 0.75, a very round level. Higher above, 0.76 and 0.7740 are further lines of resistance after capping the pair back in April. The ultimate cap is 0.7840, which was the cycle high. On the downside we find 0.73 which now switches to support, followed by 0.7175 and 0.7140. The RBA will have a hard time in its decision next week: on one hand, the positive GDP should keep it on hold or even hawkish. On the other hand, the strong exchange rate is something Stevens and co. certainly dislike. Here is the A$/USD chart: Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Staying Bullish USD Vs Commodity FX Into Yellen, RBA, Yohay Elam 6 years Aussie/USD had a hard time moving above the round 0.73 level. It had capped the pair on an initial recovery attempt and also good news from Australia such as the robust GDP report only sent it to this resistance line but no further. The Aussie hesitated also after the poor NFP report. The US economy gained only 38K jobs in May, a figure that is the worst read since September 2010 and in many cases smaller than some job gains in Australia, a country that has less than the tenth of the population. But eventually, and thanks to another poor… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
