On Tuesday yesterday, Mr. Jerome H. Powell, Fed chair has released some information related to the outbreak of Covid-19. Further, he also stated that if the government provides too less support, economic growth will also remain in the as a small interest for US citizen as well as local business owners.

Unemployment rate indicated the drop from 8.4% to 7.9%, which presented as a positive data, compared to the forecast from economists, unemployment rate was forecasted to be in 8.2%.

Even unemployment rate has indicated better than expectation, however, millions of US citizen still remain unemployed due to the pandemic. Further, the service industry also remains impacted.

On the other hand, the Reserve Bank of Australia has decided the monetary policy by keeping the interest rate at 0.25% in order to keep the continuously economic growth.

Pivot Point: 0.71650

R1: 0.71900    S1: 0.71200

R2: 0.72300    S2: 0.71000

R3: 0.72600    S3: 0.70600

Daily recommendation, today, investor should short Aussie at 0.71600, setting take profit at 0.71100 and stop loss at 0.72700.

Analyzed by: Mr. Long Samnang,Independent Analyst