AUD - The weakness has arrived. With the employment change s.a in Australia being a really low value of 14k - A 1k difference from the actual forecast of 15k and previously being at 42k last month we can see the news was really negative, the results released show us significant downfall in new jobs, that will lead the AUD to be viewed as a weak currency at this current period due to the negative fundamentals, so we're more likely to see higher investments in currencies such as the EUR, or the CAD as both had positive monetary policies.
The technical side we can see the market has started its downtrend breaking out of the previous bullish range and starting a new bearish range, this proves to us that there are more bears in this market then bulls, so all that we should be looking for in this currency pair are SELLS, now the market has formed a swing, but if we want to sell the market we wish to sell it at the highest point within the market, since all successful traders are the individuals who are the first ones in the market and the first ones out of the market - We'll be looking for a re-test at the previous resistance area, setting sell limit pending orders, this is looking like a high probability trade that will re-test that previous resistance before it starts melting again.
