The Australian Dollar gained almost 50 points yesterday morning as there was released the positive employment report. Also, the reason for the Aussie rally was the falling US dollar yesterday. As you know the USD index lost more than 40 points. To addition, Australian dollar found support from US Dollar weakness and another attempt by US Treasury Secretary Mnuchin at trade talks with China.
Now, having broken down the 200 SMA the pair is testing 0,72 level. As a result of growing, the Cayman indicator shows us 68% of buyers, when MACD histogram indicates that buyers still have a better hand, but their pressure is getting worse. That’s why we recommend that you buy Aussie after it will break 0,72 level.
Crude oil prices fell on Thursday after negative monthly data from the IEA about increasing production among OPEC members in August was released.
The Brent Oil prices fell to $79.06 a barrel and now it keeps falling. Actually, we think, that price will bounce from 200 SMA which is located at the $77,8 level.
It’s worth paying attention to Hurricane Florence – The storm, which is on track to disrupt the Carolinas and Virginia and probably this is able to raise oil prices in the near future.
So, our signals for:
AUDUSD –set a buy stop from 0.72
UKOIL – set a buy limit from $77,9