AUDUSD Analysis
AUDUSD has broken the horizontal support and starts to move in a descending channel in the 4-hour timeframe chart.
After the confirmation of downtreand movement, AUDUSD sell signal was given.
AUDUSD successfully achieved the take profit target.
US Dollar: FOMC minutes outcome
US Dollar moved higher, and the DXY index moved towards the resistance of 93.400, waiting for Breaking the resistance level.
Yesterday FOMC minutes meeting Jerome Powell said it is time to scale back stimulus from the economy. The economy is over hot with inflation, So Scaling back of some set of asset purchases in the coming meeting.
And this is the official statement of tapering from FED confident on Investors view to pour money to save US Dollar in huge quantities.
US Dollar rose to 0.50% from lows and Counter pairs crumbled to 1% against US Dollar.
Australian Dollar: Unemployment rate data
Australian Dollar came down from 0.73 to 0.71.500 this week as Drastically down from highs as US Dollar performed Dominant role in markets.
And Today Australian Unemployment rate came at 4.6% versus 5.0% expected and 4.9% previous data.
But markets do not respond to Jobs data, and more focused on Delta variant spread across Australia is preferred.
And Now AUDUSD tumbling in the market as China facing a slowdown in Economy and GDP Growth sluggish.
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