AUD/USD is currently struggling at the edge of the 0.7500-50 support area from where it is expected to push higher towards the 0.7700-50 resistance area in the coming days. The mixed economic reports of AUD and USD have lead the price to be quite indecisive and volatility currently where no certain definite pressure on either side is being observed currently.
Today, on the AUD side, RBA Assistant Governor Bullock is going to speak about the nation's key interest rates and future policy shift which is expected to have moderate impact on the AUD gains against USD in the coming days.
On the other hand, today, USD Core Durable Goods Orders report is going to be published which is expected to increase to 0.5% from the previous value of 0.1%, Durable Goods Orders is expected to decrease to -1.3% from the previous value of 2.6% and Revised UoM Consumer Sentiment report is expected to be unchanged at 98.8. Moreover, Fed Chair Powell is going to speak today about the upcoming interest rate decision, monetary policy decision, and upcoming economic decisions which are expected to inject some volatility in the pair today.
As of the current scenario, this pair is expected to be quite volatile with certain spikes on either side today, as certain high impact economic reports and events are going to be held. After the publication, certain definite pressure can be observed in the market which might lead to upcoming momentum in the market. To sum up, AUD is expected to have an upper hand over USD if USD fails to provide better outcome from the economic reports and events to be held today.
Now let us look at the technical view. The price is currently residing at the edge of the 0.7550 area along with dynamic level of 20 EMA confluence as well. After the long bearish pressure in the pair, certain counter momentum is expected to be corrective before showing any impulsive momentum against the trend. As the price remains above the 0.75 area with a daily close, further bullish pressure is expected in this pair with target towards the 0.7700-50 area in the coming days.