AUDUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.51% | -34.1 Pips |  |
||
| Week to-date | -0.18% | -11.8 Pips | |
||
| May | 0.24% | 16.1 Pips |  |
||
Upcoming key events (London Time)
Fri 04:00 PM USD Federal Reserve Chair Jerome Powell speech
What happened lately
🇺🇸 Philadelphia Fed Manufacturing Survey in May below forecast and improved to -10.4 points compared to previous figure -31.3 points in April USD Building Permits (1-mth) in April dropped to 1.416M compared to previous figure 1.437M (revised from 1.413M). Census Bureau
🇦🇺 Wage Price Index (3-mth) in Q1 unchanged at 0.8% compared to previous report in Q4.
What can we expect from AUDUSD today?
AUDUSD on Thursday dropped -0.51% to 0.66265. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for AUDUSD looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at S1 0.65979 with break below could see further selling pressure towards S2 at 0.65692. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.66674 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.66040 would indicate selling pressure.
For the week to-date, take note that AUDUSD is bearish as the pair posted lower by -0.18%.
Key levels to watch out:
| R3 | 0.67247 |
| R2 | 0.6696 |
| R1 | 0.66613 |
| Daily Pivot | 0.66326 |
| S1 | 0.65979 |
| S2 | 0.65692 |
| S3 | 0.65345 |
You might be interested in:
New Residential Construction. Census Bureau Manufacturing and Trade Inventories and Sales. Census Bureau Advanced Monthly Sales for Retail and Food Services. Census Bureau
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