AUD/USD Raised After Australian Jobless Claims Data

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On the last day of this week, the AUDUSD raised itself, whereas, this whole week we saw the continuous instability in the price movement of the pair.

There are several explanations behind this volatility, although it hits the optimum stage a week ago, however the key factors this week are the index of wage prices and interest rates, which did not allow the pair to retain their stability.

The news that put it a significant part in the promotion of price movement is the decreased unemployment rate which was released by the Australian Bureau of Statistics.

It on 13 August 2020, marked at 7.5 percent position, is 3 percent better than the economist estimate figure. This pace indicates progress in the Australian labor market, which has resulted in a rise in keeping the Australian economy.

thankfully on the last day of the week, it handles to maintain the green mark of the bullish candle with a price of 0.7157, more importantly shortly after this, there is the 23.6% Fib level support which provides the confidence to the pair that it will soon raise its level and after this, there is another trendline support at 0.7065 and there the confluence of trendline and the major horizontal support at 0.7005.

Conclusion

Considering the overall technical and fundamental outlook, selling the pair around current levels appears to be a good strategy in the short to medium term.

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