AUDUSD on Tuesday dropped -0.58% to 0.66484. Pair in consolidation. What we know.

AUDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.58%	-38.6 Pips
Week to-date	-0.13%	-8.5 Pips
June	0.27%	18.1 Pips

Upcoming key events (London Time)

Wed 02:30 AM AUD GDP (3-mth)
Thu 02:30 AM AUD Trade Balance (1-mth)

What happened lately

🇦🇺 Australia AiG Industry Index in April dropped to -40.3 points compared to previous figure -8.9 points in March
🇺🇸 U.S. Factory Orders (1-mth) in April unchanged at 0.7% compared to previous report in March. Source: Census Bureau
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in April dropped to 8.059M compared to previous figure 8.355, revised from 8.488M in March Source: Bureau of Labor Statistics

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Tweets by Australian Bureau of Statistics

What can we expect from AUDUSD today?

AUDUSD on Tuesday dropped -0.58% to 0.66484. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.66198 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.66985 or trades above daily pivot 0.66591. Break above could target R1 at 0.66878. While to the downside, we are looking at 0.66198 (S1) and daily low of 0.66305 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.66305 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: