Thanks to Australia’s weaker than expected jobs data, AUD/JPY finally broke below that short-term consolidation on the top of the falling channel on its 4-hour time frame. At the same time, the yen could continue to gain ground as risk aversion has been driving currency movements.
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It was a mixed day for the US dollar in recent trading, despite stronger than expected retail sales data.
EUR/AUD is pulling up to an area of interest seen on its 4-hour time frame while stochastic is moving up towards the overbought zone.
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The US dollar gave up a lot of ground to its major counterparts as there were no reports to support the US currency yesterday.
After its strong selloff in the past few days, GBP/AUD seems ready to make a retracement to an area of interest. On the 1-hour time frame, it can be seen that the broken support level is right in between the 38.2% and 50% Fibonacci retracement levels, making it a good sell area.
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The US dollar was sold off sharply on Friday when the NFP report printed weaker than expected results.
GBP/USD is still on an uptrend, despite the sharp selloff that occurred recently. The pair has just bounced off the bottom of the rising channel on the 1-hour time frame as indicating potential rallies.
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The US dollar’s movement was relatively subdued yesterday, as there were no major reports released from the US.
AUD/USD is testing a major support level, as seen on its daily time frame. The pair has previously bounced off the .8850 to .8900 area in the past but has formed a bearish flag right on that area.
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The US dollar gained ground against its major counterparts as the ADP employment report printed stronger than expected gains of 238K versus the estimate at 199K.