- Outlook AUD / USD indicates a poor appetite for the risk in front of US pay lists.
- Traders price prices 91.5% chance of reducing the price in September.
- Australian inflation reports increased pressure on RBA to lower borrowing costs.
Outlook AUD / USD shows weak risk appetite in front of this week in the US Nonfarm Plairoll. At the same time, the Australian dollar remains subdued after last week’s data in terms of precipitation in Australia.
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The upcoming report on US employment will show the situation of the labor market in June, reflecting the influences of Trump tariffs. The report on expected from the expected expected would raise concerns about the American economy, further injuries to appetite for injury. However, it would also increase expectations to reduce the rates on the driving rates that would weigh on the dollar, allowing Aussie to climb.
On the other hand, the ruin report would increase the dollar by delaying the time to reduce rates. However, the move would be minimal. Fed is currently more focused on the state of inflation. The economy has already proved resistant in the face of the tariff, and this trend is likely to continue.
Therefore, Powell is now more concerned about the spike in inflation. The Chairman Fed said the central bank will reduce the rates if inflation remains cold. Traders price prices 91.5% chance of reducing the price in September.
Meanwhile, inflation in Australia came to 2.1%, is considerably below forecast 2.3%. Downbeat reports increased pressure on RBA to lower borrowing costs.
AUD / USD Key events Today
Today, traders do not expect any key issues from Australia or the United States. Therefore, the couple could consolidate in front of the American Nepharma of Payrolls.
AUD / USD Technical Outlook: Bulls fight to be the price above the 30th
On the technical page, the price of AUD / USD retires after the second attempt to terminate the resilience level at 0.6550. However, bias remains bullash because the price trades above the 30th, with RSI above 50. Moreover, return from recent peaks shows the big lower shot, a sign that the bulls reject the move lower.
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If the retreat continues, the 30 SMA support line may be reached before pausting. The effort of the whether in swinging of the bulls would allow bulls to target a break over 0.6550 resistance and new high. Such a move would strengthen the bias of the bakery.
However, if the resistance is held by the company, the bears could take responsibility by pressing the price below 30th and the support level of 0.6500.
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