Risk appetite was suddenly back on the table and the Aussie spiked higher to reach 90.35,The Aussie has since recovered to stand at 89.73 and at this price will close at its first weekly loss in three against the dollar LAST WEEK.
Economists were predicting a 20,000 overall employment gain while data for June was revised to the downside. Some investors used the report to poke holes in the string of six-quarter point rate increases at the RBA suggesting that its action was too much at a time when U.S. growth was naturally coming off the boil.
Daily Chart
TECHNICAL ANALYSIS
On H4, support 3 AT 0.8837 LOOKS VULNERABLE, WITH EXTREME BEARISH SENTIMENTS.
On daily chart, the next immediate support o.8704, being the Ichimoku cloud's top and near 50% Fibo. , Breaking this critical support will expose 0.8437 (23.6 Fibo)
The current sentiments on this currency pair ARE extremely BEARISH
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