Chart - Courtesy Trading View
AUD/USD was trading 0.28% lower on the day at 0.6693 at around 09:55 GMT, bias remains neutral.
Data on Thursday showed the number of Americans filing new claims for unemployment benefits rose moderately to 198,000, up from an unrevised level of 191,000 in the prior period.
Data showed no signs yet that tightening credit conditions were having a material impact on the U.S. labor market, which remains tight.
The four-week moving average for claims increased by 2,000 to 198,250, while continuing claims edged up to 1.689 million from a downwardly revised total of 1.685M in the previous week.
Further, U.S. Q4 economic growth was revised lower to 2.6%, according to final data from the Bureau of Economic Analysis, down from an increase of 3.2% in the prior quarter.
Looking forward, the Fed's preferred inflation gauge, namely the US Core Personal Consumption Expenditure (PCE) Price Index for February, will be crucial for directions.
US Core Personal Consumption Expenditures Price Index is expected to stay at 4.7% YoY. Softer inflation will likely weigh on hawkish Fed bets.
AUD/USD is extending sideways grind around 21-EMA, price action remains capped below 200-DMA.
GMMA indicator shows major trend is bearish, while minor trend is neutral. Spinning top formation on the daily charts shows lack of clear directional bias.
Support levels - 0.6690 (5-DMA), 0.6661 (20-DMA)
Resistance levels - 0.6750 (200-DMA), 0.6780 (38.2% Fib)
Summary: AUD/USD is extending sideways grind around 21-EMA, price action remains capped below 200-DMA.
GMMA indicator shows major trend is bearish, while minor trend is neutral. Spinning top formation on the daily charts shows lack of clear directional bias.