AUDUSD on Tuesday dropped -0.07% to 0.65340. Pair in consolidation. What we know.

AUDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.07%	-4.8 Pips
Week to-date	0.3%	19.8 Pips
March	0.58%	37.9 Pips

Upcoming key events (London Time)

Wed 12:30 AM AUD Monthly CPI Indicator (12-mth)
Thu 12:30 AM AUD Retail Trade Turnover (seasonally adjusted) (1-mth)
Thu 12:30 PM USD GDP Annualized

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in January dropped to -0.1% compared to previous figure 0.1% in December
🇺🇸 U.S. Durable Goods Orders in February rose to -6.1% compared to previous figure -6.9% (revised from -6.1%) Source: Census Bureau
🇺🇸 U.S. New-Home Sales Change (1-mth) in February dropped to -0.3% compared to previous figure 1.7, revised from 1.5% in January

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Tweets by Australian Bureau of Statistics

What can we expect from AUDUSD today?

AUDUSD on Tuesday dropped -0.07% to 0.65340. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.65228 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.65591 or trades above daily pivot 0.6541. Break above could target R1 at 0.65521. While to the downside, we are looking at 0.65228 (S1) and daily low of 0.65298 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.65298 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: