February 20th 2020

The Australian employment report delivered a strong headline figure, but the unemployment rate increased for the second consecutive month. Forex traders booked profits, pressuring the AUDUSD to the bottom of a critical horizontal support area. Price action recovered slightly, as US economic data is awaited. How will this currency pair react as the trading day matures? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Initial jobless claims are predicted to remain stable nears its four-week moving average, but forex traders may react to a regional economic indicator following an upward surprise earlier in the trading week. The US Democrat’s presidential race is closely followed to determine who will run against incumbent President Trump in November. Will bulls rally the AUDUSD, or can bears succeed in a breakdown? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.