AUDUSD on Wednesday dropped -0.48% to 0.64040. Pair in consolidation. What we know.

AUDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.48%	-31.2 Pips
Week to-date	-1.6%	-104 Pips
November	1.07%	67.5 Pips

Upcoming key events (London Time)

Thu 07:00 PM USD Federal Reserve Chair Jerome Powell speech
Fri 12:30 AM AUD RBA Monetary Policy Statement
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇦🇺 Australia RBA Interest Rate Decision (Cash Rate Target) rose to 4.35% compared to previous rate 4.1% Reserve Bank of Australia

What can we expect from AUDUSD today?

AUDUSD on Wednesday dropped -0.48% to 0.64040. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.63841 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.64493 or trades above daily pivot 0.64167. Break above could target R1 at 0.64366. While to the downside, we are looking at 0.63841 (S1) and daily low of 0.63968 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.63968 would indicate selling pressure.

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

Key levels to watch out:

You might be interested in:

Powell, Opening Remarks. Federal Reserve
U.S. International Trade in Goods and Services, September 2023. Bureau of Economic Analysis
U.S. International Trade in Goods and Services. Census Bureau
Statement by Michele Bullock, Governor: Monetary Policy Decision. Reserve Bank of Australia