The Aussie is trying to bounce back from 0.6390 after retreating from a high of 0.6520. Cautious market sentiment weighed on the Australian dollar. AUD/USD could extend losses to 2020 low of 0.5506. AUD $ will try to recapture the 0.6 00 area in the US session on Friday afternoon. The pair found support at 0.6390 after falling from Thursday’s high of 0.6520. AUSSIE SENDS MARKET HOURS VERY WORRIED The pair has given up most of the week’s gains over the past two days as risk appetite has waned and investors have taken a more cautious stance as they await the outcome of the Federal Reserve’s monetary policy meeting. next week The Fed is expected to raise interest rates by 75 basis points for the fourth time in a row, although markets are pricing in a lower interest rate in December, which has kept the US dollar in check. The US data from Friday did not give a clear direction for the USD. Spending showed an unexpectedly large increase in September, indicating that Americans are continuing to buy despite historic levels of inflation. On the other hand, private wage growth slowed in the third quarter, which may be one of the first indicators of peak inflation. In addition, personal consumption expenditures were flat at 6.2 percent from a year ago, while Core PCE accelerated less than expected. AUD/USD MAY RETURN TO 0.5506 IN 2020 CREDIT SUISSE Longer term, Credit Suisse’s currency analysts see the Aussie continuing to depreciate: „Medium-term pace remains at 6%. 2020/21 uptrend tracking and April 2020 low after break 0.60 1/5978.While we wouldn’t rule out another short break here, a convincing move lower would increase the possibility of a move to 0.5506 the 2020 low.

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