AUD/USD plunges beneath the 200-DMA and 0.6800 on solid US jobs data AUDUSD Currencies Majors
US ADP Employment Change crushed estimates, while unemployment claims missed estimates, foreseeing a solid US Nonfarm Payrolls report.AUD/USD Price Analysis: Could extend its losses after dropping below the 200-day EMA.revealed in the United States confirmed a robust labor market. Therefore, traders’ speculations augmented that the Federal Reserve would continue tightening monetary conditions. At the time of writing, the AUD/USD is trading at 0.6767.
After the US economic data release, the AUD/USD dropped from around 0.6840 toward the daily low of 0.6766, failing to hold to its gains above the 200-day Exponential Moving Average , which sits a 0.6820. Ahead of the week, traders’ focus shifts toward Friday’s US Nonfarm Payrolls report. Following the release of the Federal Reserve’s December minutes, officials stressed that the labor market remained strong, emphasizing the need for a higher unemployment rate. Therefore, solidAUD/USD Price Analysis: Technical outlook
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