Yesterday’s attempt by the Aussie dollar to break out from the current congestion with a move higher, was promptly snuffed out today, as poor employment data shocked the markets, sending the currency lower against the US dollar.
The EURUSD pair fell during the bulk of the session on Tuesday, but found enough support just above the 1.3325 level in order to bounce and form a nice-looking hammer.
The AUDUSD pair rose during the course of the day on Wednesday, breaking above the 0.9350 handle.
The Canadian dollar has continued to come under heavy selling pressure once again today, driven by a resurgent US dollar, which has now broken through the key 81.30 level on the daily chart of the dollar index, to move firmly higher from this platform of support which is now in place.
The GBPUSD pair bounced during the session on Monday, as the 1.68 level has offered enough support to at least do that.
The AUDUSD pair initially fell during the day on Monday, but as you can see found enough support to turn things back around and form a hammer.
EURUSD broke above the downward trend line on 4-hour chart, indicating that consolidation of the downtrend from 1.3700 is underway.
GBPUSD continued its downward movement from 1.7190, and the fall extended to as low as 1.6809.
AUDUSD remains in downtrend from 0.9470, the rise from 0.9275 is likely consolidation of the downtrend.
The EURUSD pair fell during the course of the day on Thursday, but as you can see found enough support below in order to bounce and form a little bit of a hammer.
