Preference: Buy position is envisaged if price trades above 0.61655 with take profit at 0.61903.
Alternative scenario: Sell position is envisaged if price trades below 0.61093 with take profit at 0.60755.
Jolts Job Opening (USD) 3:00 pm
Consumer Credit (USD) 8:00 pm
Comment: This instrument has made a strong bullish move today, this could be attributed to the Reserve Bank of Australia, who left its cash rate unchanged. In his remarks, the Governor, Philip Lowe stated that though Markets have been very volatile "There are, however, some signs that markets are working more effectively than they were a few weeks ago. This improvement partly reflects the substantial measures undertaken by central banks". This hawkish statement has re-established investors confidence in the AUD, and strengthen bullish sentiment on the pair.
Preference: Buy position is envisaged if price trades above 0.59969 with take profit at 0.60344.
Alternative scenario: Sell position is envisaged if price trades below 0.59916 with take profit at 0.59141.
Jolts Job Opening (USD) 3:00 pm.
Consumer Credit (USD) 8:00 pm.
Comment: On the 1hr chart we can see the instrument make a golden cross, "a golden cross is a strong bullish signal, where the 50 EMA crosses the 200 EMA, a lot of technical traders take that as a strong signal to go bullish in the market. Recently we have noticed the NZD and AUD showing some positive correlation.
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