The AUD/USD pair shows a steady growth, actively testing 0.6740 for a breakout and trying to consolidate above the local highs of March 6, updated the day before, when the instrument reacted to the US Federal Reserve's decision on the interest rate.
As expected, the regulator raised the cost of borrowing by 25 basis points to 5.00%, a new high since 2007. At the same time, the Chair of the Fed, Jerome Powell, did not disclose plans for further adjustment of the rate this year, and the median forecast for the indicator at the end of 2023 is still at around 5.10%. The follow-up statement only noted that some additional interest rate hike might be "appropriate". Immediately after the announcement of the Fed's decision, the positions of the national currency were under pressure, but closer to the close of the daytime session, the instrument managed to bounce back.
The focus of investors today will be statistics from the US on the dynamics of Jobless Claims. It is expected that the number of Initial Jobless Claims will again grow above the psychological level of 200.0 thousand, from 192.0 thousand to 201.0 thousand, and the number of Continuing Jobless Claims for the week ended March 10 may be adjusted from 1.684 million to 1.701 million.
On Friday, March 24, there will be March data from Australia on business activity. Current forecasts suggest a decrease from 50.7 points to 49.9 points in the Services PMI and from 50.5 points to 50.3 points in the Manufacturing PMI.
Bollinger Bands in D1 chart show moderate growth. The price range expands, freeing a path to new local highs for the "bulls". MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic, which reversed downwards at the beginning of the week, still maintains a fairly confident downward direction, signaling in favor of the development of downward dynamics in the near future.
Resistance levels: 0.6750, 0.6800, 0.6853, 0.6900. | Support levels: 0.6700, 0.6650, 0.6600, 0.6563.