AUDUSD Analysis
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | -1.09% | -73.9 Pips |  |
||
| Week 2023-04-14 | 0.6% | 40 Pips |  |
||
| April | 0.34% | 23 Pips |  |
||
Upcoming key events for the new week (London Time)
Tue 02:30 AM AUD RBA Meeting Minutes 
Thu 01:30 PM USD Initial Unemployment Insurance Claims
What happened over the week
📆 🇺🇸 USD UoM 5-year Consumer Inflation Expectation | Apr flash in April preliminary estimate unchanged at 2.9% compared to previous report in March. The actual figure is also in line with the forecast Source: University of Michigan 📆 ☢️ 🇺🇸 USD Michigan Index of Consumer Sentiment | Apr flash in April preliminary estimate exceed forecast and rose to 63.5 points compared to previous figure 62 points in March Source: University of Michigan 📆 ☢️ 🇺🇸 USD Retail Trade Turnover (1-mth) | Mar in March exceed forecast and dropped to -1% compared to previous figure -0.2, revised from -0.4% in February Source: Census Bureau 🇺🇸 📆 USD In the week ending 08 April, the Initial Unemployment Insurance Claims rose to 239K compared to previous figure 228K Source: Department of Labor 📆 🇦🇺 AUD Consumer Inflation Expectations | Apr in April below forecast and dropped to 4.6% compared to previous figure 5% in March 📆 ☢️ 🇦🇺 AUD Employment Change (seasonally adjusted) | Mar in March exceed forecast and dropped to 53K compared to previous figure 64.6K in February Source: Australian Bureau of Statistics 📆 🇦🇺 AUD Full-Time Employment | Mar in March dropped to 72.2K compared to previous figure 74.9K in February 📆 ☢️ 🇦🇺 AUD Unemployment Rate (seasonally adjusted) | Mar in March unchanged at 3.5% compared to previous report in February. . Source: Australian Bureau of Statistics 📆 🇺🇸 USD Monthly Budget Statement | Mar in March exceed forecast and dropped to -378$ compared to previous figure -262$ in February. 📆 🇺🇸 USD CPI Inflation Rate (12-mth) | Mar in March below forecast and dropped to 5% compared to previous figure 6% in February Source: Bureau of Labor Statistics
What can we expect from AUDUSD for the new week and what happened on Friday?
AUDUSD on Friday dropped -1.09% to 0.67080. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2023-04-14, the pair rose 0.6% or 40 pips higher.
Looking ahead on Monday, AUDUSD looks mixed as the pair is likely to consolidate above week low of 0.66180.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.68057 or at least consolidates above Weekly Pivot level of 0.67106. On the downside, we are looking at week low 0.66180 or 0.66154 (WS1) as immediate support level. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.68057 would suggest bullish bias after recent positive movement.
For the month of April, AUDUSD is up by 0.34% or 23 pips higher.
Weekly key levels to watch out:
| R3 | 0.69908 |
| R2 | 0.68983 |
| R1 | 0.68031 |
| Weekly Pivot | 0.67106 |
| S1 | 0.66154 |
| S2 | 0.65229 |
| S3 | 0.64277 |
You might also be interested in:
Advanced Monthly Sales for Retail and Food Services Source: Census Bureau
Unemployment rate remains at 3.5% in March Source: Australian Bureau of Statistics Minutes of the Federal Open Market Committee, March 21-22, 2023 Source: Federal Reserve CPI for all items rises 0.1% in March as shelter increases Source: Bureau of Labor Statistics Publications Monthly Wholesale Trade: Sales and Inventories Source: Census Bureau
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