Trading Tips:The Australian dollar rose off a six-year trough against its U.S. counterpart on Monday, supported by the release of upbeat job advertisement data from Australia, although hopes for a U.S. rate hike this month continued to lend support to the greenback. AUD/USD hit 0.6949 during late Asian trade, the session high; the pair subsequently consolidated at 0.6930, gaining 0.31%. The pair was likely to find support at 0.6901, Friday’s low and a six-year trough and resistance at 0.7023, Friday’s high. Data earlier showed that job advertisements in Australia increased by 1.0% last month after a 0.5% slip in July, whose figure was revised from a previously estimated 0.4% fall.In the U.S., the Labor Department reported on Friday that the economy added 173,000 jobs last month, slowing after an upwardly revised gain of 245,000 in July. It was the smallest increase in employment in five months and was below expectations for 220,000.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5300 TARGET 1.5320 1.5350 SL 1.5270
SELL GBP/USD BELOW 1.5270 TARGET 1.5250 1.5220 SL 1.5300
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