Glossary on fundamentals of Australian Dollar Technical Overview on the pair AUDUSDAUDSD currently trading near the weekly supply
- Glossary on fundamentals of Australian Dollar
- Technical Overview on the pair AUDUSD
AUDSD currently trading near the weekly supply levels 0.8000.it seen a sharp rally after there was statement to change and holding faith on newly appointed Governor from Bank of Australia .
Secondly, the Interest rates hikes chances are there from BOA ,as the growth is stronger there is increase in employment ,shown drastic changes in increase.Australian jobs showing remarkable changes so its all sounds good for the economy as such .Below we would see some clue events to make better
|AUD||Retail Sales (MoM) (Oct)||0.5%||0.3%||
The data on retail sales showing 0.2 improvement overall this data came on December 2017 the increase in sales majorly improving the sentiments over trading.
|AUD||GDP (QoQ) (Q3)||0.6%||0.7%||
The GDP numbers are not that worst as it support to grow in future relating to other economic sentiments .
|AUD||Employment Change (Dec)||34.7K||9.0K|
here we could see the real engine of economy which was heading the price and upward direction .
So, after having all this bullish sentiments thee is no scope for bears to sell in Australian Dollar but still we will look on Some technical overview of AUDUSD chart
|Daily chart chart audusd|
As we could see in chart the chart is still trending in trend line after having fundamental backup to support those levels.We could see the the supply side we are now near range of 0.8000 to 0.8050 it would act as an resistance and on the same time it would be opportunity to enter for another 600 pips for next straight target of 0.8600 levels as economy is expanding and hike of interest rates fever among investors it would simply play a tremendous move across Australian dollar pairs
Let’s have Look on some levels in case if we found breaking support due to any unfortunate news in future we should watch 0.7850 as immediate support.