Daily Market Analysis 02|09|2020: AUDUSD

Daily Analysis / Online Education

Daily Market Analysis 02|09|2020: AUDUSD

Instrument: AUDUSD

Intraday: BEARISH

Technical Analysis

Sell position is envisaged if price trades below 0.73356  with take profit at 0.73044  
Alternative scenario: 
Buy position is envisaged if price trades above 0.73848 with take profit at key level 0.74080
1:15pm  USD ADP Non-Farm Employment Change

Comment: Separate data from the Australian Bureau of Statistics showed Australia suffered its worst economic fall in quarterly domestic product on record last quarter as the coronavirus pushed the country into recession. On the Dollar front, Economic data published on Tuesday showed U.S. manufacturing activity accelerated to a nearly two-year high in August amid a surge in new orders, with the reading from the Institute for Supply Management highest level since November 2018. 

Analysis: SCRUM Team

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