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AUD/USD Signal - US Fed Williams Comments - 07 Sep 2016

Signal details
Entry Price: 
0.7670
Close Price: 
0.7670
Direction: 
Low
Expiry Time: 
20:00 GMT
How we trade
5/5 of 2 ratings

After a significant growth in the AUD/USD, the pair started drifting lower in New York today. In the past hours of the day the AUD/USD has been varying in between the 0.7651 and 0.7671 levels. The decline can be justified by a lower than expected Gross Domestic Product report from Australia which was accompanied by a slowdown in the construction sector.

All of this information was combined with a statement by Fed's Williams who said that the US economy is close to full employment. Having in mind the afore mentioned information we can assess the point of 0.7670 as an appropriate target price because it is probable for the AUD/USD price will move lower from it today. This means that we will be buying daily puts at the price of 0.7670 heading into the 20:00 GMT expiration.

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. He has no business nor personal relationships with any mentioned government entities or stocks. 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.