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AUD/USD Trading - Australian unemployment rate - 18 Nov 2016

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AUD/USD chart 18 Nov 2016
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The Australian dollar lost 180 points in three days.

As expected, a reversal in prices for minerals, industrial metals, the growing divergence in the yields of US bonds made the Australian dollar down.

The fundamental data plays against the Australian dollar.

The iron ore fell to 70.33 dollars, the copper, aluminum, zinc are reducing, the same situation is with the precious metals. Also, the oil refuses to grow in price. In addition, the US dollar is strengthening against the most of the world currencies.

Yesterday, investors got weak data on the Australian labor market. In October, the number of people who have found job totaled 9.8K vs. 20.0K. The September figure was revised from -9.8K to -29.0K. The participation rate decreased from 64.5% to 64.4% against the expectations of growth to 64.6%. The overall unemployment rate is unchanged, 5.6%.

How to trade binary

During the Asian session, the Australian dollar is weakening against the US dollar. The break of 0.7380 will mark a new impetus to the formation of the downward movement to the lows around 0.7357 and 0.7328. The level 0.7415 provides sufficient resistance to the buyers. The break of this level will lead to the return of the pair AUD/USD in the area of 0.7432, and then 0.7458.

We would buy Call options if the pair rises above 0.7415. We would buy Put options if the pair falls below 0.7380.

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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