- The Weekly Forecast AAUD / USD indicates some bear feeling.
- The risk feeling was poor after the passage of Trump billed account over the US Senate.
- The American economy added 147,000 jobs in June, above the forecast of 111,000.
The Weekly Forecast AAUD / USD indicates some bear feeling because market participants are prepared for cutting RBA Rate.
UPS and DOWNS AUD / USD
The price of AUD / USD had a bicovan Sunday, but closed well beneath her high. Initially, the data of Padua has helped support Aussie at the beginning of the week. However, the dangerous tool was bad after Trump’s account cuts that the tax bill had passed over the US Senate. At the same time, there was uncertainty in front of the Trump Rocio Reciprocal Tariff.
–Are you interested in learning more about forex indicators? See our detailed guide-
Moreover, the United States has published a report on labor employment on Friday. The economy added 147,000 jobs in June, above a forecast of 111,000. At the same time, the unemployment rate was unexpectedly low to 4.1%. As a result, the expectations are facilitated, and the dollar is strengthened.
Key events next week for AUD / USD
Next week market participants will focus on the Spare Bank of Australia’s Meeting. Economists in Reuters survey this week said they expect the central bank to reduce interest for the third time because inflation was facilitated and the economy slows down. That move can weigh on the Australian dollar.
Meanwhile, traders will also pay attention to the minutes of the FOMC policy meeting. They can contain traces in appearance for future reduction in feet.
AUD / USD Sunday technique Technical forecast: Momentum fades after range interruption
On the Technical Side AUD / USD, the price is retired after breaking the area of consolidation. It still trades above the 30th, a sign that are bulls in lead. At the same time, RSI trades a little over 50 years, suggesting a strong momentum.
–Are you interested in learning more about Best Bitcoin exchangers? See our detailed guide-
After making a sharp move, the price paused and began trading between 0.6400 support levels and levels of resilience at 0.6500. The range is retained for a while until the bulls have gained momentum to push the price from consolidation.
However, while the price made a higher high, RSI did not. This indicates that the momentum is declining from its previous high. Therefore, the bulls could fight to reach and break over level 0.6601. Meanwhile, if bears become stronger, the price will probably break below the SMA and return to the range area.
Looking for forex trading now? Invest in Ethorro!
68% Retail order Loss of money lose money when trading CFDs with this provider. You should consider whether you can afford to take a high risk of losing money.
