AUD/USD Outlook (14th August 2019)

AUD/USD has been trending downwards for quite a while. The recent AUD/USD trend seems to be short-lived, thus not providing a clear direction.

The Australian employment data will be released tomorrow morning at 0930 (SGT).

• Employment Change (Forecast: 14.2K, Previous: 0.5K)
  
• Unemployment Rate (Forecast: 5.2%, Previous: 5.2%)
  

It is forecasted that more jobs have been added into the job market and the unemployment rate is expected to remain the same. Thus, if the data released are better than or as forecasted, the Australian dollar may strengthen and move towards the key level of 0.68. At the moment, AUD/USD is bouncing off the key level of 0.68, moving further away from the resistance level of 0.68800 and moving towards the support level of 0.67000.