AUDUSD on Wednesday dropped -0.12% to 0.65082. End May down by -1.56% or -103 pips lower. Pair in consolidation. What we know.

AUDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.12%	-7.8 Pips
Week to-date	-0.14%	-8.8 Pips
May	-1.56%	-103 Pips

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What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in March dropped to 0.6% compared to previous figure 0.7% (revised from 0.5%)
🇦🇺 Australia Building Permits (1-mth) in April below forecast and dropped to -8.1% compared to previous figure -0.1% in March Australian Bureau of Statistics

What can we expect from AUDUSD today?

AUDUSD on Wednesday dropped -0.12% to 0.65082. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.64639 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.65387 or trades above daily pivot 0.65013. Break above could target R1 at 0.65456. While to the downside, we are looking at 0.64639 (S1) and daily low of 0.64570 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.64570 would indicate selling pressure.

For the week to-date, take note that AUDUSD is mixed as compared to the prior week.

AUDUSD ended month of May trading session down by -1.56% or -103 pips lower.

Key levels to watch out:

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