AUDUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.2% | -13.1 Pips |  |
||
| Week to-date | 0.76% | 50.3 Pips |  |
||
| June | 2.36% | 153.4 Pips |  |
||
Upcoming key events (London Time)
Thu 02:30 AM AUD Trade Balance (1-mth)
What happened lately
🇺🇸 U.S. Goods and Services Trade Balance in April dropped to -74.6$ compared to previous figure -60.6$ (revised from -64.2$) 🇦🇺 GDP (12-mth) in Q1 below forecast and dropped to 2.3% compared to previous figure 2.7% in Q4 Australian Bureau of Statistics 🇦🇺 GDP (3-mth) in Q1 below forecast and dropped to 0.2% compared to previous figure 0.5% in Q4 Australian Bureau of Statistics 🇦🇺 AiG Industry Index in April improved to -10.9 points compared to previous figure -20.1 points in March 🇦🇺 RBA Interest Rate Decision (Cash Rate Target) exceed forecast and rose to 4.1% compared to previous rate 3.85% Reserve Bank of Australia
What can we expect from AUDUSD today?
AUDUSD on Wednesday dropped -0.2% to 0.66551. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.66244 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.67171 or trades above daily pivot 0.66707. Break above could target R1 at 0.67015. While to the downside, we are looking at 0.66244 (S1) and daily low of 0.66400 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.66400 would indicate selling pressure.
For the week to-date, take note that AUDUSD is bullish as the pair continued to trade higher and is up by 0.76% over the past few days.
Key levels to watch out:
| R3 | 0.67786 |
| R2 | 0.67478 |
| R1 | 0.67015 |
| Daily Pivot | 0.66707 |
| S1 | 0.66244 |
| S2 | 0.65936 |
| S3 | 0.65473 |
You might be interested in:
U.S. International Trade in Goods and Services. Census Bureau Quarterly Financial Report. Census Bureau Quarterly Financial Report – Retail. Census Bureau Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Statement by Philip Lowe, Governor: Monetary Policy Decision. Reserve Bank of Australia
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