AUDUSD on Thursday dropped -0.41% to 0.66347. What we know.

AUDUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.41%	-27.1 Pips
Week to-date	-0.33%	-22.2 Pips
June	0.07%	4.6 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 U.S. Producer Price Index ex Food & Energy (1-mth) in May dropped to 0% compared to previous figure 0.5% in April
🇺🇸 U.S. Interest Rate Projections – 2nd year unchanged at 3.1% compared to previous rate 3.1%
🇺🇸 U.S. Interest Rate Projections rose to 5.1% compared to previous rate 4.6%
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Interest Rate Projections – 1st year below forecast and rose to 4.1% compared to previous rate 3.9%
🇺🇸 U.S. Interest Rate Projections – Longer rose to 2.8% compared to previous rate 2.6%
🇺🇸 U.S. Monthly Budget Statement in May dropped to -347$ compared to previous figure 209.5$ in April Source: Bureau of the Fiscal Service
🇺🇸 U.S. CPI Inflation Rate (1-mth) in May dropped to 0% compared to previous figure 0.3% in April Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in May dropped to 3.3% compared to previous figure 3.4% in April Source: Bureau of Labor Statistics

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What can we expect from AUDUSD today?

AUDUSD on Thursday dropped -0.41% to 0.66347. 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 0.66151 with break below could see further selling pressure towards S2 at 0.65956. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.66752 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.66256 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: