AUDUSD Analysis: Lower unemployment bullish for AUDUSD

October 17, 2019

By IFCMarkets

Lower unemployment bullish for AUDUSD

Unemployment in Australia dipped for the first time in seven months in September. Will the AUDUSD rise?

AUDUSD rising above MA(200)

The price chart on 1-hour timeframe shows AUDUSD: H1 is in uptrend. The price is above the 200-period moving average MA(200) which is rising. The Stochastic oscillator is in the overbought zone which is bearish.

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Technical Analysis Summary

Order Buy
Buy stop Above 0.6832
Stop loss Below 0.6812

Market Analysis provided by IFCMarkets