- AUD / USD Forecast remains subordinated for sour risks.
- Records with feeding meetings do not show the hint of aggressive mitigation.
- Data on Australian PMI show an increase in economic activity
The AUD / USD forecast remains on Thursday until the couple agrees to 0.6420 during the European session. The price remains about the weakest level in two months after publishing four consecutive days of losses. The sense of risk is still fragile in front of the speech of the Fed Stolid Pismo in the Jackson Hole Symposium.
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The market participants carefully observe the annual event, which is expected to provide critical guidelines on Fed Policy Decision. The traders predict the reduction of the BPS rate, which would be the first decrease in installments from 2025. years, reducing the reference value rate of 4.25% to 4.0%. The Fed Attitude came under intensive criticism, because US President Trump called deeper cut at a lower than 1%. He claimed elevated rates valid on the government’s government and housing requirement.
Recent American data reveal a mixed image. In July, American inflation rose to 2.7%, and the basic inflation increased to 3.1%, while manufacturer prices have set up to 3.6%. Meanwhile, the labor market showed softness, strengthening uncertainties around the Fed Policies. The Assembly of FOMC for July revealed that most Fed officials were concerned about the growing inflation and trade tariff, spilling bets for aggressive alleviation.
On the Australian side, PMI preliminary data showed resistance, with a composite PMI increase to 54.9 of 53.8 in July and production and services. However, it was failed to arm an Aussie from a wide strength and risk of risk.
Key events for AUD / USD
Looking forward, traders will carefully monitor the release of American Flash PMIS and indices of filadelphia processing until today. However, Powell’s Jackson Hole Holides will probably set the AUD / USD tone, determining whether the pair extends losses or finds almost deadline support.
AUD / USD Technical Woneda: Bears target for 200 moms
AUD / USD 4-hour chart shows the price of weak near key support at 0.6420. In case of interruption, the pair could further extend the losses to test 200 periods at 0.6380. Below the level could attract sales according to 0.6300. RSI Stay below 40.0 shows a solid bear trend, with multiple pillows to the lack of falls, because the index is still above the resale zone.
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On the side of the movement above the 20-period, the SMA at 0.6490 could switch the trend in the immediate obstacle to 0.6550 in advance of 0.6600.
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