The AUD/USD pair is showing moderate growth, developing the "bullish" momentum of the previous trading session, when the instrument managed to retreat from the local lows of November 14, 2023. Quotes are testing 0.6445 for a breakout, while trading participants analyze the March report on the Australian labor market published on Thursday.

The price is in a correction and may grow.

On the daily chart, the upward third wave of the higher level (3) develops, within which a downward correction formed as the second wave 2 of (3), and the wave 3 of (3) develops. Now, the first wave of the lower level i of 3 has formed, and a local correction is ending as the second wave ii of 3, within which the wave (c) of ii is ending. If the assumption is correct, after the correction, the AUD/USD pair will grow to the area of 0.6665–0.6870. In this scenario, critical stop loss level is 0.6266.

The AUD/USD pair is declining for the second week in a row, testing 0.6408 (Murrey level [1/8]) amid the strengthening of the American currency after the publication of strong macroeconomic statistics, which contributed to the shift in the timing of the start of easing of monetary policy by the US Federal Reserve to the second half of this year.

During the Asian session, the AUD/USD pair is testing the key support area of 0.6489–0.6447 against the background of statistics from the United States.

The AUD/USD pair remains at last week’s levels around 0.6576 amid a correction in the American dollar and positive macroeconomic statistics from Australia.