AUDUSD on Wednesday dropped -0.28% to 0.65784. What we know.

AUDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.28%	-18.2 Pips
Week to-date	-0.45%	-30 Pips
May	1.6%	103.3 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇦🇺 Australia RBA Interest Rate Decision (Cash Rate Target) unchanged at 4.35% compared to previous rate 4.35% Source: Reserve Bank of Australia

Latest from X (Twitter)

Tweets by Australian Bureau of Statistics

What can we expect from AUDUSD today?

AUDUSD on Wednesday dropped -0.28% to 0.65784. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for AUDUSD looks bearish as the pair posted lower in Wednesday trading session.

Looking ahead for the day, immediate support level is at S1 0.65593 with break below could see further selling pressure towards S2 at 0.65402. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.65939 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.65575 would indicate selling pressure.

For the week to-date, take note that AUDUSD is mixed as compared to the prior week.

Key levels to watch out: