AUD/USD Analysis 2015.05.07

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AUD/USD Analysis 2015.05.07

Buy on a level breakthrough of 0.8004 with 0.8070 target. Stop loss = 0.7950.

Source: Exness Forex Broker

Reason for the trading strategy

In April, the employment rate in Australia decreased by 2.9 thousand people, while the unemployment rate rose from 6.1% to 6.2%. After a morning test of the $0.7921 mark, the Aussie recovered quickly. The low probability of an imminent tightening of the interest rate policy in the United States will support investors’ interest in higher-yielding currencies. The spread between the key interest rates in Australia and the United States remains in the positive zone, amounting to 1.75%.

AUD/USD Chart

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