AUDUSD on Thursday rose 0.08% to 0.66872. Pair in consolidation. What is going on.

AUDUSD on Thursday rose 0.08% to 0.66872. Pair in consolidation. What is going on.

AUDUSD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday 0.08% 5.1 Pips
Week to-date -0.42% -28 Pips
March -0.87% -58.2 Pips

Upcoming key events (London Time)

Fri 12:30 PM USD Durable Goods Orders
Fri 12:30 PM USD Nondefense Capital Goods excluding Aircraft

What happened lately

📆 🇺🇸 USD Chicago Fed National Activity Index in February below forecast and dropped to -0.19 points compared to previous figure 0.23 points in January. Source
📆 ☢️ 🇺🇸 USD Fed Interest Rate Decision (Federal Funds Rate) rose to 5% compared to previous rate 4.75%. Source

AUDUSD Chart by TradingView

What can we expect from AUDUSD today?

AUDUSD on Thursday rose 0.08% to 0.66872. Price is neutral near 9-Day EMA while Stochastic is rising.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.66511 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.67552 or trades above daily pivot 0.67031. While to the downside, the daily low of 0.66670 and 0.66511 (S1) as immediate support levels. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.67552 would suggest bullish bias after recent positive movement.

For the week to-date, take note that AUDUSD is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 0.68275
R2 0.67913
R1 0.67393
Daily Pivot 0.67031
S1 0.66511
S2 0.66149
S3 0.65629

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Federal Reserve issues FOMC statement Source: Federal Reserve

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