AUDUSD on Tuesday dropped -0.91% to 0.66319. What we know.

AUDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.91%	-61.1 Pips
Week to-date	-0.88%	-58.8 Pips
April	-0.8%	-53.8 Pips

Upcoming key events (London Time)

Wed 02:30 AM AUD CPI Inflation Rate (3-mth)
Wed 02:30 AM AUD Monthly CPI Inflation Rate (12-mth)
Wed 02:30 AM AUD RBA Trimmed Mean CPI (3-mth)
Wed 01:30 PM USD Durable Goods Orders
Wed 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft
Thu 01:30 PM USD GDP Annualized

What happened lately

🇺🇸 New Residential Sales (1-mth) in March exceed forecast and rose to 0.683M compared to previous figure 0.623, revised from 0.64M in February Census Bureau
🇺🇸 Housing Price Index (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.1, revised from 0.2% in January
🇺🇸 Chicago Fed National Activity Index in March unchanged at -0.19 points compared to previous report in February.

What can we expect from AUDUSD today?

AUDUSD on Tuesday dropped -0.91% to 0.66319. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for AUDUSD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at S1 0.65948 with break below could see further selling pressure towards S2 at 0.65577. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.67054 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.66130 would indicate selling pressure.

For the week to-date, take note that AUDUSD is bearish as the pair posted lower by -0.88%.

Key levels to watch out:

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