Source: PaxForex Premium Analytics Portal, Technical Insight
NFP employment growth of 390k marked another decent result in the US labor market in May. Will this data change the policy outlook? Probably not, so TD Securities economists don't expect it to be a game changer in currency markets.
AUD/USD,D1
Pivot: 0.7204
Analysis:
Provided that the currency pair is above 0.7000, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.7204
- Take Profit 1: 0.7280
- Take Profit 2: 0.7445
Alternative scenario:
In case of break-down of the level 0.7000, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.7000
- Take Profit 1: 0.6825
- Take Profit 2: 0.6700
Comment:
RSI shows the possibility of an uptrend during the day.
Key levels:
| Resistance | Support |
| 0.7555 | 0.7000 |
| 0.7445 | 0.6825 |
| 0.7280 | 0.6700 |
