AUDUSD on Tuesday dropped -1.1% to 0.65866. What we know.

AUDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-1.1%	-73.1 Pips
Week to-date	-1.48%	-99 Pips
January	-3.25%	-221.2 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD Monthly Retail Trade (1-mth)
Thu 12:30 AM AUD Labour Force Monthly Employment Change

What happened lately

🇦🇺 Australia TD Securities Inflation (12-mth) in December rose to 5.2% compared to previous figure 4.4% in November

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What can we expect from AUDUSD today?

AUDUSD on Tuesday dropped -1.1% to 0.65866. 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 0.65574 with break below could see further selling pressure towards S2 at 0.65282. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.66520 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.65755 would indicate selling pressure.

For the week to-date, take note that AUDUSD is bearish as the pair posted lower by -1.48%.

Key levels to watch out: