AUDUSD on Tuesday dropped -1.03% to 0.65517. What we know.

AUDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-1.03%	-68.2 Pips
Week to-date	-1.79%	-119.5 Pips
December	-0.78%	-51.6 Pips

Upcoming key events (London Time)

Wed 12:30 AM AUD GDP (3-mth)
Thu 12:30 AM AUD Trade Balance (1-mth)

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in October below forecast and dropped to 8.733M compared to previous figure 9.35, revised from 9.553M in September Source: Bureau of Labor Statistics
🇦🇺 Australia RBA Interest Rate Decision (Cash Rate Target) unchanged at 4.35% compared to previous rate 4.35% Source: Reserve Bank of Australia
🇺🇸 U.S. Factory Orders (1-mth) in October exceed forecast and dropped to -3.6% compared to previous figure 2.3, revised from 2.8% in September Source: Census Bureau
🇦🇺 Australia TD Securities Inflation (12-mth) in November dropped to 4.4% compared to previous figure 5.1% in October

Latest from X (Twitter)

Tweets by Australian Bureau of Statistics

What can we expect from AUDUSD today?

AUDUSD on Tuesday dropped -1.03% to 0.65517. 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 0.6523 with break below could see further selling pressure towards S2 at 0.64943. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.66216 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.65436 would indicate selling pressure.

For the week to-date, take note that AUDUSD is bearish as the pair posted lower by -1.79%.

Key levels to watch out: