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Australian dollar gets jobs boost meanwhile Kiwi feels rate pain

The Australian dollar (AUD) experienced a modest uplift, following an unexpected surge in employment figures. The 58,200 jobs added far surpassed market forecasts of a gain, indicating a resilient labour market despite broader economic challenges. Looking at the technical aspect, the 1-hour chart for AUDUSD shows a modest upward trend. The chart highlights a recent high before a slight pullback. The Moving Averages (5,10,30) indicate a short-term bullish trend, while the MACD histogram shows a potential bullish crossover with the MACD line rising towards the signal line. This suggests the possibility of renewed upward momentum. Read more to find out about the AUD outlook.

AUD outlook

Disclaimer:

Both currencies are subject to global economic influences, particularly from the US Federal Reserve’s policy decisions, which could shift market dynamics significantly in the coming months. Traders are advised to prioritize proper risk management to make well-informed trading decisions.

Publication date:

2024-08-19 07:57:29 (GMT)

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