AUD/USD Outlook (18 March 2020)

Overall, AUD/USD is trending downwards. Recently, AUD/USD trended lower, breaking the support level of 0.60700.
The Australian Employment data will be released tomorrow at 0830 (SGT).

• Employment Change (Forecast: 8.5%, Previous: 13.5%)
  
• Unemployment Rate (Forecast: 5.3%, Previous: 5.3%)
  

Reserve Bank of Australia (RBA) Governor Philip Lowe will be announcing further policy measures to support the Australian economy on combating the coronavirus pandemic tomorrow at 1300 (SGT). Volatility is expected of AUD during this time.
AUD/USD’s next support level is at 0.58800 and the next resistance level is at 0.60700.
With the upcoming announcement from Governor Lowe, it is unlikely that the employment data will have much impact on AUD. Look for trading opportunities of AUD/USD after the announcement.