The stochastic is making slightly higher lows and a cross-over has occurred. Further confirmation will be provided when the stochastic moves out of the oversold zone. Price has been making lower lows. Regular Bullish Divergence - suggests bears are weakening and signals possible trend change from downward to upward.
Positive employment data is expected from Australia after midnight GMT and this should support the bullish move. Employment change is forecast to be +10,000 versus -29,700 in September. A better than expected figure will be bullish for the AUD-USD.
Positive employment data is expected from Australia after midnight GMT and this should support the bullish move. Employment change is forecast to be +10,000 versus -29,700 in September. A better than expected figure will be bullish for the AUD-USD.