From FX Empire: 2024-06-19 20:30:00

Investors are keeping an eye on US jobless claims and the Philly Fed Manufacturing Index, which could impact the AUD/USD. Economists predict jobless claims to decrease to 235k, affecting Fed rate cut expectations. The Philly Fed Manufacturing Index is forecasted to remain at 4.5 in June. Housing sector data may play a smaller role in market movement.

Short-term AUD/USD trends depend on US labor data, PMIs, and central bank decisions. Weak US data and support from Beijing could benefit the Aussie dollar. AUD/USD is above EMAs, with resistance at $0.67003. A break above could lead to $0.67500, while a drop below $0.66500 could test support levels.

Investors should consider the impact of PBoC decisions, US jobless claims, and Fed communications on AUD/USD price action. A breakout above $0.67500 could bring bulls to the $0.67967 resistance level, while a drop below $0.66500 may lead to testing support levels.



Read more at FX Empire: AUD to USD Forecast: China’s Rates Decision and US Labor Data in Focus