AUDUSD on Thursday dropped -0.63% to 0.65043. Things to look out.

AUDUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.63%	-41.1 Pips
Week to-date	-2.2%	-146 Pips
May	-1.62%	-107.2 Pips

Upcoming key events (London Time)

Fri 02:30 AM AUD Retail Trade Turnover (seasonally adjusted) (1-mth)
Fri 01:30 PM USD Durable Goods Orders
Fri 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft

What happened lately

🇺🇸 Personal Consumption Expenditures Prices (3-mth) in Q1 preliminary estimate unchanged at 4.2% compared to previous report in Q4. The actual figure is also in line with the forecast Bureau of Economic Analysis
🇺🇸 In the week ending 20 May, the Initial Unemployment Insurance Claims rose to 229K compared to previous figure 225K (revised from 242K) Department of Labor
🇺🇸 Chicago Fed National Activity Index in April exceed forecast and rose to 0.07 points compared to previous figure -0.37, revised from -0.19 points in March

What can we expect from AUDUSD today?

AUDUSD on Thursday dropped -0.63% to 0.65043. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

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 0.64865 with break below could see further selling pressure towards S2 at 0.64688. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.65450 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.64980 would indicate selling pressure.

For the week to-date, take note that AUDUSD is bearish as the pair posted lower by -2.2%.

Key levels to watch out:

You might be interested in:

Minutes of the Federal Open Market Committee, May 2-3, 2023. Federal Reserve
New Home Sales. Census Bureau

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