Monday, August 8, 2016

AUD/USD ratio is showing little movement on Monday

AUD/USD ratio is showing little movement on Monday. Long and short positions are close to an even split, indicative of a lack of trader bias as to what direction the pair will take next.•AUD/USD was flat in the Asian session and posted slight gains in European trade. The pair has posted gains early in the North American session
•0.7560 is providing support
•There is resistance at 0.7701
•Current range: 0.7560 to 0.7701
Further levels in both directions:
•Below: 0.7560, 0.7440, 0.7339 and 0.7251
•Above: 0.7701, 0.7835 and 0.7938
The Australian dollar has edged higher on Monday, erasing the losses which marked the Friday session. Early in the North American session, AUD/USD is trading at 0.7650. In economic news, Australian ANZ Job Advertisements declined 0.8%. Later on Monday, we’ll get a look at NAB Business Confidence. In the US, the sole event on the schedule is the Labor Market Conditions Index. The indicator has recorded five straight declines. Will we see a move into positive territory?