AUD/USD down 37 pips to 0.7243

A slow grind is when the orderboard is especially important because they can expose the strength of the trend or signal a reversal


  • 0.7236 - low so far (there were reported bids earlier at 0.7240)
  • 0.7234 is the 61.8% fib of the latest move
  • 0.7210/00 - good demand ahead of the figure
  • 0.7192 - 100-dma
  • 0.7187 - 55-dma
  • 0.7170 - minor double bottom

There's a bit of a head-and-shoulders pattern shaping up with a neckline at 0.7170 so that's a level to watch over the next few days.

AUD/USD has no given back all the employment repot gains -- that's not a good signal.