{"id":108179,"date":"2017-06-28T06:37:50","date_gmt":"2017-06-28T10:37:50","guid":{"rendered":"http:\/\/countingpips.com\/?p=108179"},"modified":"2017-06-28T06:37:50","modified_gmt":"2017-06-28T10:37:50","slug":"audusd-forex-technical-analysis-strengthening-labor-market-is-bullish-for-australian-dollar","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/06\/audusd-forex-technical-analysis-strengthening-labor-market-is-bullish-for-australian-dollar\/","title":{"rendered":"AUDUSD: Forex Technical Analysis – Strengthening labor market is bullish for Australian dollar"},"content":{"rendered":"
June 28, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Strengthening of labor market is bullish for Australian dollar<\/strong><\/p>\n

The Reserve Bank of Australia held its policy unchanged at June 4 policy meeting. The fall in unemployment to 5.5% in May from 5.7% in April was bullish development. Will the Australian dollar <\/a> continue strengthening?<\/p>\n

The Reserve Bank of Australia held the interest rate at 1.5% for the ninth month at its June 4 policy meeting. The central bank mentioned it didn\u2019t want to hike rates since the depreciation of the exchange rate since 2013 has assisted the economy in its transition following the mining investment boom, and the outlook continues to be supported by the low level of interest rates. The unexpected fall in unemployment in May was a bullish development for the Australian dollar. It indicated continued strength of labor market as the labor force participation rose to a 10-month high of 64.9% from 64.8% in the previous period.<\/p>\n

\"AUDUSD\"<\/p>\n

On the daily timeframe AUDUSD: D1 <\/b> is rebounding after hitting five-month low in the beginning of May. The price has risen above the 200-day moving average MA(200).<\/p>\n