Australian Dollar Makes Mild Recovery After Positive Employment Data

• 17 May 2018

AUD/USD

The AUD/USD pair is testing the high price SMA which could suggest the beginning of an uptrend. RSI has recovered from oversold conditions and has a sharp upward trajectory. MACD also appears to be in the midst of a momentum reversal.

EUR/AUD

The EUR/AUD pair has descended towards a key support area at the 1.566 price level. At the same time, RSI has hit the 30 support area and appears to have leveled off, whilst MACD has extended its bearish position. A break of the 1.566 price level will provide significant weight to the downtrend.

AUD/JPY

The AUD/JPY pair has broken the high price SMA to the upside, supported by bullish momentum on RSI. Volume appears to be rising into the move indicating buyers are dominating the increasing trading activity.

AUD/CHF

The AUD/CHF pair is testing the 0.753 price level as well as the high price SMA. A break would send the pair to a recent market top at the 0.755 price level. Momentum indicators support bullish sentiment and volume is also rising into the bullish run.