AUDUSD on Tuesday dropped -0.08% to 0.66480. Pair in consolidation. What we know.

AUDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.08%	-5.6 Pips
Week to-date	0.32%	21 Pips
May	2.67%	172.9 Pips

Upcoming key events (London Time)

Wed 02:30 AM AUD Monthly CPI Indicator (12-mth)
Thu 01:30 PM USD GDP Annualized

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in March dropped to 0.1% compared to previous figure 1.2% in February

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What can we expect from AUDUSD today?

AUDUSD on Tuesday dropped -0.08% to 0.66480. 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 0.66334 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.66798 or trades above daily pivot 0.66566. Break above could target R1 at 0.66712. While to the downside, we are looking at 0.66334 (S1) and daily low of 0.66420 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.66420 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: