AUDUSD on Wednesday dropped -0.52% to 0.65494. What we know.

AUDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.52%	-34.5 Pips
Week to-date	-2.04%	-136.2 Pips
January	-3.8%	-258.4 Pips

Upcoming key events (London Time)

Thu 12:30 AM AUD Labour Force Monthly Employment Change

What happened lately

🇦🇺 Australia Consumer Inflation Expectations in January unchanged at 4.5% compared to previous report in December.
🇺🇸 U.S. Industrial Production (1-mth) in December rose to 0.1% compared to previous figure 0.2%
🇺🇸 U.S. Monthly Retail Trade excluding Automobile (1-mth) in December exceed forecast and rose to 0.4% compared to previous figure 0.2% in November

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What can we expect from AUDUSD today?

AUDUSD on Wednesday dropped -0.52% to 0.65494. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for AUDUSD looks bearish as the pair posted lower in Wednesday trading session.

Looking ahead for the day, immediate support level is at S1 0.65177 with break below could see further selling pressure towards S2 at 0.64861. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.65946 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.65245 would indicate selling pressure.

For the week to-date, take note that AUDUSD is bearish as the pair posted lower by -2.04%.

Key levels to watch out: