Morning Insights 10th August

Simon Alagbe

Analyst

Instrument: AUDUSD

The release of a series of strong job data from the United States has raised expectations of tapering by the Federal Reserve. The positive data has prompted the market to reconsider when the central bank will taper its $120 billion asset-purchase programs, leading to higher interest rates. 


Technicals: 

The pair has shown signs of rejection around the 0.73153 support zone favouring a push to the upside with take profit at 0.73579 and stop-loss at 0.73123. 


Fundamentals 

No major economic data is scheduled to be released today

Use your preferred trading platform

Register Now


Payment Options

What Clients Say?