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Australia Employment Change

Today at 00:30am UK Time. Australia Employment Change measures a change in the number of officially employed Australians in the reported month, and a sign of a stronger labor market. F:32.9K, P:39.1K #AUDUSD may test support at 0.7050.

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Market Recap: 11 - 15 March

 

 
On Tuesday last week we covered the AUDUSD which spent the remainder of the week consolidating in a narrow range right above the key level of 0.7050. Just leading up to last week the AUDUSD rallied well and moved back up that level. In the last few weeks however the AUDUSD has fallen from near 0.72 down to its lowest levels in two months at 0.70 before the recent rally. For the most part in the last two months, the AUDUSD has traded within a narrow range between 0.7050 and around 0.72. 
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AUDUSD - Clasps to Key 0.7050 Level as RBA Warns on Housing

 

 
In the last few days the AUDUSD has rallied well and moved back up above the current key level of 0.7050. In the last couple of weeks however the AUDUSD has fallen from near 0.72 down to its lowest levels in two months at 0.70 before the recent rally. For the most part in the last two months, the AUDUSD has traded within a narrow range between 0.7050 and around 0.72. 
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Market Recap: 25 February - 1 March

 

 
On Tuesday last week we covered the GBPUSD which continued earlier in the week to climb above the key level of 1.32 before finishing the week easing back to this level and finding support there. The last three weeks has seen a resurgent sterling as it climbed back towards that key 1.32 level, after spending the previous three weeks falling away strongly from the same key resistance level at 1.32.
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Market Wrap – February 2019

Several significant issues have continued into the New Year including Brexit which is quickly approaching the key date in March, as well as the lingering trade talks between the United States and China which are having a flow on effect into many markets around the world.  To add to the concerns, the International Monetary Fund (IMF) has recently warned governments to prepare for a possible economic storm as growth undershoots expectations.

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AUDUSD - Looking for Support at 0.7050 Again as RBA Now Open to Cuts

 

 
In the last few weeks the AUDUSD has been attempting to steadily climb higher to back above the key 0.7150 level but remains less than convincing. Several weeks ago the AUDUSD fell back down to support at 0.7050 after meeting stiff resistance at the key 0.73 level, and it is currently relying on support from 0.7050 which has supported the currency pair several times and very well since October 2018.
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Market Recap: 11 - 15 February

 

 
On Tuesday last week we covered the GBPUSD which continued throughout the week to move strongly lower before rallying higher to finish the week. The last three weeks has seen the GBPUSD fall strongly away from the key resistance level at 1.32 and it seems to be eyeing off potential support at 1.27 again. The sterling enjoyed a very positive January as it has moved from below 1.27 up to a three-month high at the resistance level around 1.32, before the recent decline.
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AUDUSD - Relying on Much Needed Support at 0.7050 as RBA Downgrades Forecasts

 

 
In the last couple of weeks the AUDUSD has fallen back down to support at 0.7050 after meeting stiff resistance at the key 0.73 level. It is currently relying on support from 0.7050 which has supported the currency pair several times in the last few months. In the lead up to hitting resistance at 0.73 the AUDUSD rallied well to move past the key 0.7150 level and reach a two month high around 0.73 before easing lower. 
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Market Recap: 4 - 8 February

 

 
On Tuesday last week we covered the AUDUSD which continued throughout the week to move strongly lower after running into resistance at the 0.73 level. Leading up the 0.73 level, the AUDUSD rallied well to move past the key 0.7150 level and reach a two month high around 0.73 before it was sold off.
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AUDUSD - Repelled from Resistance at 0.73 as RBA Meets

 

 
In the last few days the AUDUSD has run into a wall of resistance at the key 0.73 level which has repelled prices lower since. In the last week or so the AUDUSD has rallied well to move past the key 0.7150 level and reach a two month high around 0.73 before easing lower. The 0.7150 level has previously provided support to the AUDUSD and is likely to do so again should it be called upon.
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