The Australian dollar continues to lose its positions and can't do anything against the USD, which now hasbeengivenaboostbytheFed'sratehikeyetagain. What is putting pressure on AUD Today? - Of course, negative forecasts for the global economy after the introduction of anti-Russian sanctions, as well as lockdowns in the largest cities of China. In addition, the business confidence index decreased from 16 to 10 pips in April.
In the United States of America, the situation is more attractive for investors: unemployment remains at the lowest level for the second month, the number of jobs created exceeded expectations, but the most crucial factor is, of course, a 50-pi increase in the rate, with the possibility of future development.
Next week will be more volatile for AUD/USD: data on industrial production output in China, retail sales in the US and the unemployment report in Australia are expected, and according to forecasts, unemployment should fall to 3.9%. The Australian dollar has certain chances of consolidation, and nevertheless, most of the technical analysis tools give a Sell signal. We, in turn, believe that trend deals remain the most promising, and we are waiting for testing of new lows. Together within month, the level of 0.677 can even be reached; the 0.65 level is also realistic. As a result, we anticipate selling AUD today.
