AUD Trading Outlook
The Australian Dollar (AUD) weak Jobs data hurt the Aussie sentiment with the market unable to take full advantage of the risk rally in stocks. May Employment Change was +7.8k vs. +25.4k forecast. The Unemployment remained at 4.9%. Overall the AUD/USD traded with a low of 1.0561 and a high of 1.0664 before closing the day at 1.0620 in the New York session.
The Australian Dollar (AUD) risk off trading hurt the Aussie the most falling through support at 1.0680 and back below 1.0600 briefly before stabilizing later in the day. AUD/PJY broke below the key Y85 level with the market struggling to find support. Overall the AUD/USD traded with a low of 1.0587 and a high of 1.0713 before closing the day at 1.0630 in the New York session.
The Australian Dollar (AUD) fell back with the Euro and pressure from weak commodities. Support was found under 1.0700 and the market ended at opening levels. The RBA is ahead and could provide direction from the statement accompanying. Overall the AUD/USD traded with a low of 1.0690 and a high of 1.0769 before closing the day at 1.0725 in the New York session. Looking ahead, RBA announcement forecast unchanged at 4.75%.
The Australian Dollar (AUD) fell back with the Euro and pressure from weak commodities. Support was found under 1.0700 and the market ended at opening levels. The RBA is ahead and could provide direction from the statement accompanying. Overall the AUD/USD traded with a low of 1.0690 and a high of 1.0769 before closing the day at 1.0725 in the New York session. Looking ahead, RBA announcement forecast unchanged at 4.75%.
The Australian Dollar (AUD) the risk currency was hurt from the weak US jobs numbers and stock market reaction but was able to find support at 1.0600 and rally back above 1.0700 to close on a strong footing. Traders are also watching the AUD/JPY which found support at the key Y85 level. Overall the AUD/USD traded with a low of 1.0593 and a high of 1.0773 before closing the day at 1.0725 in the New York session.
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