The price of the Australian dollar sharply changed direction and began to decline after the publication of negative statistics on the labor market in Australia. Thus, the unemployment rate unexpectedly increased by 0.4% in July, up to 6.4%, while the number of employed people decreased by 0.3 thousand. As a result, the prices reached the target level of 0.9280 and broke through it. Fixing the price below this mark is a signal to open short positions with the closest targets at 0.9220 and 0.9100. We recommend holding short positions and maintain a medium-term negative outlook with the target of about 0.8900.
07.08.2014 - Data on unemployment has led to the fall of the Australian dollar
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