- Outlook AUD / USD suggests increasing skills more of RBA cuts this year.
- In June, the US economy added 147,000 jobs compared to a forecast of 111,000.
- Investors remain confident in relation to trade offers as well as tariff deadlines.
Outlook AUD / USD suggests the growing desire to multiply RBA rates this year than previously provided for, striving on Australian dollar. At the same time, the dollar gained momentum after a better American job report from better than expected.
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Reuters survey revealed that economists expect a spare bank of Australia to reduce lending for the third time next week. The RBA started its late cycle relief late, but it gains momentum. Inflation in Australia has eased significantly, and the economy slows down. Therefore, policy makers have each reason to reduce interest rates. As a result, financial markets expect a total of five decreases of reduction this year, compared to a previous forecast of three.
By the way, the dollar gained on Thursday after the United States published a report on working jobs. The economy added 147,000 jobs in June, compared to a forecast of 111,000. Meanwhile, the unemployment rate entered 4.1%, it is significantly below the forecast 4.3%. The report facilitated the pressure on the Fed at lower debit costs, strengthening the dollar.
Meanwhile, investors remain confident in relation to trade offers as well as tariff deadlines. Greater tariffs could be transferred to concerns about the American recession.
AUD / USD Key events Today
The market participants do not expect any key issues from Australia or the US. Therefore, a couple could extend the move on Thursday.
AUD / USD Technical Outlook: Bears set out sights on support from 0.6500
On the technical page, the price of AUD / USD was discontinued below 30-SMA after pause near resistance to 0.6590. Pause means a bear transition to feeling. At the same time, the RSI broke under 50, which indicates a stronger bear momentum.
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Initially, the bulls had a strong lead, and the price became higher high and lower. Moreover, it respected 30 SMA as support. However, the bulls are impaired after the price reached a new level near Level 0.6590. The RSI formed a bear divergence, which shows the fading momentum. As a result, the bears acquired enough power to pierce 30 SMA.
However, to confirm the reversal, the price must fall further below SMA and starts to give lower and lower lower. In such a case, the price would probably reach a 0.6500 support.
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