AUDUSD Analysis: Weak unemployment report bearish for AUDUSD

November 14, 2019

By IFCMarkets

Weak unemployment report bearish for AUDUSD

Australia’s unemployment rate ticked up to 5.3% from 5.2% in September. Will the AUDUSD decline?

AUDUSD falling below MA(200)

On 1-hour timeframe AUDUSD: H1 is in downtrend, below the 200-period moving average MA(200) which is falling. The Stochastic indicator is in the oversold zone which is bullish.

Technical Analysis Summary

OrderSell
Sell stopBelow 0.6774
Stop lossAbove 0.6794

Market Analysis provided by IFCMarkets