Participant

Data released this afternoon for non farm payrolls came out even higher than highest forecasts at 295k new jobs, giving the green back a big surge with all major currencies dropping at least a figure at the time of writing. Comparing GBP, EUR & AUD to the USD on daily charts you can see that the currency that depreciated the least against the USD was the AUD, it did fall like the rest after figures were out, but its overall decline for the day was far less than the rest in terms of average decline , looking at the charts below you can see the AUD hasn’t declined much compared to its past large down days, whereas GBP and EUR have had typical large declines looking back. So is there a support level for the AUD around this price range? it could be, maybe its downward trend is just momentarily stalled, in which case this is a good opportunity to sell.


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