AUDUSD Analysis
Performance | |||||
Period | Pct | Chg | Momentum | ||
Friday | 0.97% | 64.1 Pips | |||
Week 2023-07-07 | 0.42% | 28 Pips | |||
July | 0.42% | 28 Pips |
Upcoming key events for the new week (London Time)
Wed 04:10 AM RBA’s Governor Philip Lowe speech
Wed 01:30 PM CPI Inflation Rate (1-mth)
Wed 01:30 PM CPI Inflation Rate (12-mth)
Wed 01:30 PM CPI Inflation Rate excluding Food and Energy sectors (1-mth)
Wed 01:30 PM CPI Inflation Rate excluding Food and Energy sectors (12-mth)
Thu 01:30 PM Initial Unemployment Insurance Claims
Thu 01:30 PM Producer Price Index excluding Food and Energy sectors (12-mth)
Fri 03:00 PM Michigan Index of Consumer Sentiment
What happened over the week
๐บ๐ธ U.S. Nonfarm Payroll Employment in June below forecast and dropped to 209K compared to previous figure 306, revised from 339K in May Source: Bureau of Labor Statistics
๐บ๐ธ U.S. ISM Services PMI in June exceed forecast and rose to 53.9 points compared to previous figure 50.3 points in May
๐บ๐ธ U.S. Job Openings and Labor Turnover Survey (JOLTS) in May below forecast and dropped to 9.8M compared to previous figure 10.103M in April
๐บ๐ธ In the week ending 01 July, U.S. Initial Unemployment Insurance Claims rose to 248K compared to previous figure 236K (revised from 239K) Source: Department of Labor
๐บ๐ธ U.S. ADP Non-Farm Employment Change in June exceed forecast and rose to 497K compared to previous figure 278K in May
๐บ๐ธ U.S. Challenger Job Cuts in June dropped to 40.709K compared to previous figure 80.089K in May
๐ฆ๐บ Australia RBA Interest Rate Decision (Cash Rate Target) below forecast and unchanged at 4.1% compared to previous rate 4.1% Source: Reserve Bank of Australia
What can we expect from AUDUSD for the new week and what happened on Friday?
AUDUSD on Friday rose 0.97% to 0.66880. Price is above 9-Day EMA while Stochastic is falling. For the week ending 2023-07-07, the pair rose 0.42% or 28 pips higher.
Looking ahead on Monday, AUDUSD looks as
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.67054 or at least consolidates above Weekly Pivot level of 0.66640. On the downside, we are looking at week low 0.65987 or 0.66227 (WS1) as immediate support level. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.67054 would suggest bullish bias after recent positive movement.
For the month of July, AUDUSD is up by 0.42% or 28 pips higher.
Weekly key levels to watch out:
R3 | 0.68361 |
R2 | 0.67707 |
R1 | 0.67294 |
Weekly Pivot | 0.66640 |
S1 | 0.66227 |
S2 | 0.65573 |
S3 | 0.65160 |
You might also be interested in:
Payroll employment increases by 209,000 in June; unemployment rate changes little at 3.6% Source: Bureau of Labor Statistics
U.S. International Trade in Goods and Services, May 2023 Source: Bureau of Economic Analysis
U.S. International Trade in Goods and Services Source: Census Bureau
Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau
Minutes of the Federal Open Market Committee, June 13-14, 2023 Source: Federal Reserve
Construction Spending Source: Census Bureau
Statement by Philip Lowe, Governor: Monetary Policy Decision Source: Reserve Bank of Australia
#AUDUSD trending on Twitter
[custom-twitter-feeds hashtag=”#AUDUSD” num=3 showheader=false]
Important Notice: We do not endorsed nor verified the posts provided by Twitter widget.