AUDUSD on Thursday rose 0.3% to 0.65607. Pair in consolidation. Why it matters.

AUDUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.3%	19.4 Pips
Week to-date	0.73%	47.8 Pips
November	3.54%	224.2 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Michigan Index of Consumer Sentiment in November exceed forecast and rose to 61.3 points compared to previous figure 60.4 points in October University of Michigan
🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in November unchanged at 3.2% compared to previous report in October. The actual figure is also in line with the forecast University of Michigan
🇺🇸 U.S. Durable Goods Orders in October exceed forecast and dropped to -5.4% compared to previous figure 4.6, revised from 4.7% in September Census Bureau

Latest from X (Twitter)

Tweets by Australian Bureau of Statistics

What can we expect from AUDUSD today?

AUDUSD on Thursday rose 0.3% to 0.65607. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.65434 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.65745 or trades above daily pivot 0.6559. Break above could target R1 at 0.65762. While to the downside, we are looking at 0.65434 (S1) and daily low of 0.65417 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.65745 may suggest continuation after recent positive movement.

For the week to-date, take note that AUDUSD is bullish as the pair continued to trade higher and is up by 0.73% over the past few days.

Key levels to watch out:

You might be interested in:

Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Minutes of the Federal Open Market Committee, October 31-November 1, 2023. Federal Reserve