Australian Dollar Technical Outlook: AUD/USD Reversal Puts the Uptrend to the Test
AUD/USD reversed sharply off key resistance last week, with bulls now attempting to stabilize the multi-month advance ahead of key U.S. jobs data.
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Australian Dollar Technical Outlook: AUD/USD Multi-Timeframe Analysis
The Australian dollar reversed off a multi-year resistance zone after an eight-week advance, leaving U.S. jobs data to set the next move. Michael Boutros, StoneX Media Senior Market Analyst, walks through the weekly, daily and four-hour charts and explains where the uptrend stays intact and what would signal it is breaking. He also maps the event risk driving the pair, starting with Australian second quarter GDP and running through the ADP private sector employment report and Friday's nonfarm payrolls. Federal Reserve rate expectations swung sharply after the Jackson Hole Economic Symposium, and the employment data can reset them again.
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Key AUD/USD Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts
- Euro Short-term Outlook: EUR/USD Pullback Nears Pivotal Uptrend Support
- Canadian Dollar Short-term Outlook: USD/CAD Recovery Reaches Downtrend Resistance
- British Pound Short-term Outlook: GBP/USD Bulls Confront Resistance at Three-Month Highs
- Gold Price Short-term Outlook: XAU/USD Breakout Faces a Defining Test
- US Dollar Short-term Outlook: USD Correction Pressures Pivotal Support
- Swiss Franc Short-term Outlook: USD/CHF Rally Presses Yearly Trend Resistance
- Japanese Yen Short-term Outlook: USD/JPY Defends the Uptrend as the Range Tightens
--- Written by Michael Boutros, Senior Technical Strategist
Follow Michael on Twitter @MBForex
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