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12 Sep 2013
AUD/USD sellers take control below key 0.9280
FXstreet.com (Barcelona) - AUD/USD has been hit by heavy supply, after a surprisingly low Australian jobs reports, which saw the country lose 10,800 job posts in August, a month characterized by a much higher average, as indicates the +10k expectations.
Break below 0.9280 technically damaging
The first hourly print post Aus jobs data could not be more discouraging for the interest of buyers, which saw the price reverse abruptly from 0.9350 all the way to close below key support 0.9280, suggesting a first important technical break to see further follow through along the trading session on Thursday.
AUD/USD technical outlook
According to John Noonan, Head of IFR Market, "a break and close below yesterday's 0.9277 low would be bearish, with the break below ending an eight-day run of higher daily lows." Noonan also outline that a break and close below ths key level would result in bearish outside day, which according to the Analyst, "would suggest the short-term trend higher in danger of ending."
Break below 0.9280 technically damaging
The first hourly print post Aus jobs data could not be more discouraging for the interest of buyers, which saw the price reverse abruptly from 0.9350 all the way to close below key support 0.9280, suggesting a first important technical break to see further follow through along the trading session on Thursday.
AUD/USD technical outlook
According to John Noonan, Head of IFR Market, "a break and close below yesterday's 0.9277 low would be bearish, with the break below ending an eight-day run of higher daily lows." Noonan also outline that a break and close below ths key level would result in bearish outside day, which according to the Analyst, "would suggest the short-term trend higher in danger of ending."