AUDUSD Price Chart

The Forex AUD/USD pair continues its uncertain corrective dynamics, trading

at 0.6997 after the Australian Bureau of Statistics (ABS) published data on

the state of the national labor market in May.

AUD/USD Forex today

According to the report, the unemployment rate remained at 3.9% for the

third consecutive month, signaling a slowdown in labor force growth and

AUD/USD Forex rate. Despite this, employment in the country increased by

60.6 thousand to 13.510 million people, and the share of the economically

active population – up to 66.7%, although the number of unemployed increased

by 7.8 thousand people, amounting to 548.1 thousand. Thus, the national

labor market is actively recovering, which provides support to the national

economy and AUD/USD Forex chart.

US politics and AUD/USD Forex prediction

In turn, two key blocks of statistics were published in the US the day

before, which influenced the quotes of the AUD/USD live Forex chart.

Thus, the number of applications for unemployment benefits amounted to 229

thousand, which exceeded the 215 thousand predicted by analysts, and the

total number of citizens receiving payments from the state increased to

1.312 million from 1.309 million.

In addition, a report was released on the state of the housing market, which

also affected the long-term Forex AUD/USD forecast. According to it, in May,

the number of building permits issued fell to 1.695 million from 1.823

million a month earlier, which led to a reduction in the volume of

construction of new homes to 1.549 million from 1.810 million a month

earlier.

What is seen on the live Forex chart AUD/USD?

Now the Forex AUD/USD trading instrument is testing the level of 0.6960 for

a breakdown upwards, however, further positive dynamics of the AUD/USD Forex

rate is limited by experts’ fears regarding the slowdown in the global

economy.

As you know, a number of global financial regulators, including the US

Federal Reserve and the Bank of England, made the expected decisions to

raise interest rates, and the US department decided on a record increase of

75 basis points since 1994. Central banks are trying to respond to the

soaring consumer prices and the downtrend of the AUD/USD Forex chart,

sacrificing the prospects for economic recovery, while external factors

change little.

Live Forex chart AUD/USD support and resistance levels

So what’s with AUD/USD Forex today? On the daily chart, Bollinger Bands are

steadily declining: the price range is expanding, clearing the way for the

“bears” to new local highs.

The MACD indicator of the AUD/USD live Forex chart is falling, keeping a

weak sell signal (the histogram is below the signal line). Stochastic is

trying to turn into a horizontal plane, being located approximately in the

center of its working area.

Experts’ AUD/USD Forex prediction says that the resistance levels are as follows:

• 0.7000,
• 0.7050,
• 0.7100,
• 0.7150.,

Support levels:

• 0.6950,
• 0.6900,
• 0.6849,
• 0.6800.

Our Forex AUD/USD forecast of the upward dynamics is being strengthened. Also you can see Usd/Cad forecast and Apple stock price.