AUDUSD on Wednesday rose 0.72% to 0.65658. Why it matters.

AUDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.72%	47.2 Pips
Week to-date	0.69%	45 Pips
April	0.69%	45 Pips

Upcoming key events (London Time)

Fri 01:30 AM AUD Trade Balance (1-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇦🇺 Australia AiG Industry Index in February improved to -5.3 points compared to previous figure -14.9 points in January
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in February rose to 8.756M compared to previous figure 8.748, revised from 8.863M in January Source: Bureau of Labor Statistics
🇺🇸 U.S. Factory Orders (1-mth) in February rose to 1.4% compared to previous figure -3.8, revised from -3.6% in January Source: Census Bureau
🇦🇺 Australia TD Securities Inflation (12-mth) in March dropped to 3.8% compared to previous figure 4% in February
🇦🇺 Australia TD Securities Inflation (12-mth) in March dropped to 3.8% compared to previous figure 4% in February

Latest from X (Twitter)

Tweets by Australian Bureau of Statistics

What can we expect from AUDUSD today?

AUDUSD on Wednesday rose 0.72% to 0.65658. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for AUDUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.65894 with break above could target R2 at 0.66129 or figure level area. While towards the downside, we are looking at daily low of 0.65029 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.65697 may suggest continuation after recent positive movement.

For the week to-date, take note that AUDUSD is bullish as the pair continued to trade higher and is up by 0.69% over the past few days.

Key levels to watch out: