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AUD/USD Signal - AUD Wage Price Index - 24 Feb 2021

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Signal Details
Entry Price: 
0.79386
Take Profit: 
0.80000
Stop Loss: 
0.78750
Direction: 
Buy
How we trade
Average: 5 (2 votes)

AUD/USD is trading to the upside today after the AUD Wage Price Index. The Wage Price Index released by the Australian Bureau of Statistics is an indicator of labor cost inflation and of the tightness of labor markets. The Reserve Bank of Australia pays close attention to it when setting interest rates. Technically the pair is trading above the 50 moving average, and we anticipate further upside on the AUD/USD into the 0.80000 level.

Submitted by Toni H. on Wed, 24 Feb 2021 02:24:04 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

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