AUDUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.47% | 31.5 Pips |  |
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| Week to-date | 1.35% | 89.3 Pips | |
||
| May | 1.35% | 89.3 Pips | |
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Upcoming key events (London Time)
Fri 02:30 AM AUD RBA Monetary Policy Statement
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
USD Nonfarm Business Labor Productivity in Q1 preliminary estimate dropped to -2.7% compared to previous figure 1.6% (revised from 1.7%). Bureau of Labor Statistics 🇺🇸 In the week ending 29 April, the Initial Unemployment Insurance Claims rose to 242K compared to previous figure 229K (revised from 230K) Department of Labor 🇺🇸 Goods and Services Trade Balance in March exceed forecast and improved to -64.2$ compared to previous figure -70.6, revised from -70.5$ in February 🇦🇺 Trade Balance (1-mth) in March exceed forecast and rose to 15269M compared to previous figure 13870M in February Australian Bureau of Statistics 🇦🇺 Exports (1-mth) in March rose to 4% compared to previous figure -3% in February 🇦🇺 Imports (1-mth) in March rose to 2% compared to previous figure -9% in February 🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Federal Reserve 🇦🇺 Retail Trade Turnover (seasonally adjusted) (1-mth) in March exceed forecast and rose to 0.4% compared to previous figure 0.2% in February Australian Bureau of Statistics
What can we expect from AUDUSD today?
AUDUSD on Thursday rose 0.47% to 0.67021. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.66593 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.67062 or trades above daily pivot 0.66827. Break above could target R1 at 0.67256. While to the downside, we are looking at 0.66593 (S1) and daily low of 0.66399 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.67062 may suggest continuation after recent positive movement.
For the week to-date, take note that AUDUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 0.67919 |
| R2 | 0.6749 |
| R1 | 0.67256 |
| Daily Pivot | 0.66827 |
| S1 | 0.66593 |
| S2 | 0.66164 |
| S3 | 0.6593 |
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