AUDUSD on Tuesday rose 0.59% to 0.66660. Pair in consolidation. What we know.

AUDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.59%	39.4 Pips
Week to-date	0.83%	54.8 Pips
May	0.82%	54.4 Pips

Upcoming key events (London Time)

Wed 02:30 AM AUD Retail Trade Turnover (seasonally adjusted) (1-mth)
Wed 01:15 PM USD ADP Non-Farm Employment Change
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 07:00 PM USD FOMC Monetary Policy Statement
Wed 07:30 PM USD FOMC Press Conference

What happened lately

🇺🇸 Factory Orders (1-mth) in March exceed forecast and rose to 0.9% compared to previous figure -1.1, revised from -0.7% in February Census Bureau
🇦🇺 RBA Interest Rate Decision (Cash Rate Target) exceed forecast and rose to 3.85% compared to previous rate 3.6% Reserve Bank of Australia
🇦🇺 RBA Interest Rate Decision (Cash Rate Target) exceed forecast and rose to 3.85% compared to previous rate 3.6% Reserve Bank of Australia

What can we expect from AUDUSD today?

AUDUSD on Tuesday rose 0.59% to 0.66660. Price is above 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.66185 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.67171 or trades above daily pivot 0.66678. Break above could target R1 at 0.67153. While to the downside, we are looking at 0.66185 (S1) and daily low of 0.66203 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.67171 may suggest continuation after recent positive movement.

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

Key levels to watch out:

You might be interested in:

Construction Spending. Census Bureau
Statement by Philip Lowe, Governor: Monetary Policy Decision. Reserve Bank of Australia

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