AUDUSD on Thursday dropped -0.66% to 0.63596. What is going on.

AUDUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.66%	-42.2 Pips
Week to-date	-2.42%	-157.6 Pips
November	0.31%	19.4 Pips

Upcoming key events (London Time)

Fri 12:30 AM AUD RBA Monetary Policy Statement
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

No major activities.

What can we expect from AUDUSD today?

AUDUSD on Thursday dropped -0.66% to 0.63596. 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 0.63363 with break below could see further selling pressure towards S2 at 0.63131. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.64282 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.63590 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:

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