On Thursday, AUD showed growth against the background of the weakness of USD caused by a decline in the US stock market, as well as in the absence of important macroeconomic releases in Australia.
The US currency was under pressure from weak statistics on inflation and the number of initial jobless claims, published on Thursday in the US. Core CPI was 2.2%, which was lower than the forecast of 2.3%. Initial Jobless Claims number exceeded the forecast, reaching 214K applications, which indicates a weak labor market.
Today, the pair has slowed due to the decline in the number of home loans, according to the Australian Bureau of Statistics. The market is expected to be moderately volatile. Investors should pay attention to the release of the Michigan Consumer Sentiment Index (16:00 GMT+2), and of Baker Hughes US Oil Rig Count (20:00 GMT+2).
Support and resistance
On the H4 chart the instrument is trading at the upper line of Bollinger Bands. MACD histogram is in the positive area with its volumes minimal.
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