AUDUSD
Technical Analysis
AUDUSD have big potential to buy around 0.66246-0.66200. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of sellers took profit and buyers decided to involve in. Based on volume indicator the momentum for buyer is weakening. Target price at 0.66979
Fundamental Analysis
The unemployment rate in Australia is currently at a low of 3.6%. However, it is expected to rise in the coming months as the economy slows down. The RBA is forecasting the unemployment rate to reach 4.0% by the end of 2023.
Overall, the Australian economy is facing some headwinds in 2023. However, it is still expected to grow, albeit at a slower pace than in 2022. The key risks to the outlook are inflation, interest rates, and the war in Ukraine.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete
