Our free forex signals service today is a sell order on the AUD/USD pair.
In the short term, the AUD/USD pair moves somehow sideways, so we’ll have to wait for a clear direction before taking action.
At the time of writing, the currency pair tries to rebound and recover only because the Dollar Index slipped lower. The USD could take the lead again only if the DXY jumps higher.
The Aussie is still strong after the Australian data came in better than expected yesterday. The Unemployment Rate dropped from 4.6% to 4.2% below 4.5% expected, while the Employment Change was reported at 64.8K above 60.0K expected.
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US CB Leading Index 0.8% Growth Expected!
Fundamentally, the USD needs strong support from the US economy to be able to dominate the currency market. Later, the US CB Leading Index is expected to report a 0.8% growth in December versus 1.1% growth in November. Also, don’t forget that the Treasury Sec Yellen Speaks could shake the markets as well.
Technically, the AUD/USD pair reached the uptrend line which represents an important dynamic support. Only a valid breakdown below the uptrend line could open the door for a larger downside movement.
Free forex signals – SELL AUD/USD at 0.7158
Free forex signals entry price and takes profit
Instrument: AUD/USD
Order Type: SELL STOP
Entry price: 0.7158
Stop Loss: 0.7279
TP1: 0.6994
My Risk: 1%
Risk / Reward Ratio: 1:1.35
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