AUD/USD, H4 29 March 2024
The Australian Dollar extended losses for a second consecutive session, driven by disappointing Consumer Inflation Expectations and Retail Sales figures from Australia. Additionally, the ongoing bullish trend for the US Dollar, particularly ahead of the pivotal PCE report, further weighed on the AUD/USD pair. However, subdued market activity due to Good Friday trading is expected to limit significant movements for the Australian Dollar.
AUD/USD is trading flat, consolidating in a range between resistance and support level. Suggesting the pair might experience technical correction.
Resistance level: 0.6535, 0.6585📉
Support level: 0.6485, 0.6410📈
The Australian Dollar extended losses for a second consecutive session, driven by disappointing Consumer Inflation Expectations and Retail Sales figures from Australia. Additionally, the ongoing bullish trend for the US Dollar, particularly ahead of the pivotal PCE report, further weighed on the AUD/USD pair. However, subdued market activity due to Good Friday trading is expected to limit significant movements for the Australian Dollar.
AUD/USD is trading flat, consolidating in a range between resistance and support level. Suggesting the pair might experience technical correction.
Resistance level: 0.6535, 0.6585📉
Support level: 0.6485, 0.6410📈