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AUD/USD RSI Sits in Overbought Zone Ahead of Australia Jobs Report
2020-12-14 15:00:00
David Song,
Strategist
Australian Dollar Talking Points
AUD/USD trades to a fresh yearly high (0.7577) ahead of the update to Australia’s Employment report, and recent developments in the Relative Strength Index (RSI) indicates a further appreciation in the exchange rate as the indicator pushes into overbought territory.
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AUD/USD RSI Sits in Overbought Zone Ahead of Australia Jobs Report
AUD/USD extends the series of higher highs and lows from the previous week as the US Dollar continues to reflect an inverse relationship with investor confidence, and fresh data prints coming out of Australia may keep the exchange rate afloat as employment is expected to increase for the second consecutive month.