The AUD/USD is looking to end the week by more than 0.50%. Due to risk aversion, broad US dollar strength, and a decent jobs report, the Australian dollar is under pressure. Technically, the price is strongly bearish as it lies below the 200-SMA. The forecast for the AUD/USD is strongly bearish after the mixed US data. The US dollar is overall strong amid broad risk aversion. The AUD/USD price trades at 0.7400 at the time of writing, down 0.19% in the North American session as traders head into the long weekend. –Are you interested in learning more about CFD brokers? Check our detailed guide- The Australian dollar was on the defensive due to market risk aversion, a recovering US dollar, and mixed US economic data. In addition, global economic prospects are clouded by tensions between Russia and Ukraine and the outbreak of Covid-19 in Shanghai, China. Macro data supporting the greenback Data related to the US economy went over the wires before Wall Street opened. Despite a 0.5% decline in retail sales in March, February’s growth was revised upward to 0.8%. In the meantime, initial claims for unemployment benefits rose to 185,000 from an expected 171,000, data showed on Thursday. Despite a high US inflation scenario, the University of Michigan’s Consumer Sentiment Index (UoM) rose to 65.7, higher than the forecast 59.4. Additionally, consumer inflation expectations are expected to remain at 5.4% next year. The job market performance of the Australian registry was good but less than expected. Australia’s economy created just 17,900 new jobs, less than 40,000 jobs, while the unemployment rate rose to 4%, above 3.9%. What’s next to watch for AUD/USD forecast? Now that the data has been released, it’s important to look at what next week has in store for AUD/USD traders. This week, RBA minutes and consumer price index data will be available in the Australian docket. Also, from across the pond, the US Listing shows US building permits, housing developments, existing home sales, and instant PMI. AUD/USD forecast via daily open interest The AUD/USD price closed in losses yesterday. Meanwhile, the daily open interest for the pair significantly rose. It indicates a strong bearish bias. Get FREE Forex Signals Now! AUD/USD price technical forecast: Bears challenging 200-SMA The AUD/USD price has broken below the 200-period SMA on the 4-hour chart. The pair seems too vulnerable to hold the 0.7400 support. The downside breakout will bring the 0.7350 support as a target. –Are you interested in learning more about MT5 brokers? Check our detailed guide- The volume is quite low for the last three bars. This is because the market lacks any volatility on the day. However, the next week will be decisive for the pair. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal AUD/USD Daily Outlooks share Read Next USD/JPY Price Breaks 126.00 as Greenback Firms on 50-bp Rate Hike Saqib Iqbal 1 month The AUD/USD is looking to end the week by more than 0.50%. Due to risk aversion, broad US dollar strength, and a decent jobs report, the Australian dollar is under pressure. Technically, the price is strongly bearish as it lies below the 200-SMA. The forecast for the AUD/USD is strongly bearish after the mixed US data. The US dollar is overall strong amid broad risk aversion. The AUD/USD price trades at 0.7400 at the time of writing, down 0.19% in the North American session as traders head into the long weekend. -Are you interested in learning more about CFD brokers?… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.