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AUD/USD Trading - Australian employment change - 14 Dec 2016

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AUD/USD Trading chart 14 Dec 2016
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The Aussie showed a little growth on a back of falling euro and the pound

The NAB business confidence index increased from 4 to 5 points in November. In China, the industrial production grew from 6.1% y/y to 6.2% y/y, the retail sales rose in from 10.0% y/y to 10.8% y/y. The iron ore rose by 0.27% (to $80.47).

However, today's Australian data were weak

The Westpac consumer sentiment index showed a decline to 3.9%, the sales of new cars fell by 0.6%. During the Asian session, the Aussie shows a decline, which may mean shifting the attention of investors to the Fed meeting. Nobody has doubts that the rate will be raised today. Moreover, there is a likelihood of increase from current 0.50% to 1.25%.

How to trade binary

During today's Asian session, the Aussie was trading in a sideways channel against the US dollar. The support and resistance levels remained unchanged. The buyers are expected to re-growth and the breakdown level of 0.7510, from which it will be possible to consider new Call options with a view to updating the resistance near 0.7564.

The sellers will try to get back to the strong support 0.7475. The re-test of this level can lead to a major reduction to the 0.7452 area. We would buy Put options if the pair falls below 0.7475.This scenario would be invalidated if the pair goes above 0.7510, in which case we go for Call option with the end of the expiry.

Asset: AUD/USD
Direction: Put
Target price: 0.7475
Expiry time: 21:00 GMT

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.

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