USD/AUD (AUD=X) Looks For Traction From Stronger Employment Growth, Lower Unemployment

USD/AUD (AUD=X) Looks For Traction From Stronger Employment Growth, Lower Unemployment

USD/AUD (AUD=X) Looks For Traction From Stronger Employment Growth, Lower Unemployment

The Australian Dollar rose against a majority of developed world currencies Wednesday, recovering from an overnight slump, as traders took up positions ahead of the latest volley of labour market data from down under that is due for release at 02:30 am London time on Thursday.

Wednesday’s price action comes after Reserve Bank of Australia governor Philip Lowe told a conference audience that an interest rate rise “still looks to be some time away”, citing slack in the labour market and weak wage growth, which sent the Aussie unit lower during the overnight session.

Thursday’s unemployment data offers the Aussie unit a chance to recover some more lost ground, with a stronger than expected reading for jobs growth or unemployment likely to boost the currency.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 0.77.

The projected lower bound is: 0.75.

The projected closing price is: 0.76.


During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 21 white candles and 27 black candles for a net of 6 black candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 30.4946. This is not an overbought or oversold reading. The last signal was a sell 5 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 49.01. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 26 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -19. This is not a topping or bottoming area. The last signal was a sell 4 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.

Rex Takasugi – TD Profile

FOREX AUD= closed unchanged at 0.758. Volume was 97% below average (consolidating) and Bollinger Bands were 40% narrower than normal.

Open High Low Close Volume___
0.758 0.758 0.757 0.758 2,569

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 0.76 0.76 0.77
Volatility: 9 9 9
Volume: 88,350 96,935 87,163

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.


FOREX AUD= is currently 2.1% below its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of AUD= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AUD= and have had this outlook for the last 9 periods.

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