AUDUSD on Wednesday dropped -0.54% to 0.65662. End January down by -3.55% or -241.5 pips lower. What we know.

AUDUSD on Wednesday dropped -0.54% to 0.65662. End January down by -3.55% or -241.5 pips lower. What we know.

AUDUSD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday -0.54% -35.8 Pips
Week to-date -0.09% -5.6 Pips
January -3.55% -241.5 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

๐Ÿ‡บ๐Ÿ‡ธ U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
๐Ÿ‡บ๐Ÿ‡ธ U.S. Employment Cost Index in Q4 below forecast and dropped to 0.9% compared to previous figure 1.1% in Q3
๐Ÿ‡ฆ๐Ÿ‡บ Australia Monthly CPI Inflation Rate (12-mth) in December below forecast and dropped to 3.4% compared to previous figure 4.3% in November Source: Australian Bureau of Statistics
๐Ÿ‡บ๐Ÿ‡ธ U.S. Job Openings and Labor Turnover Survey (JOLTS) in December exceed forecast and rose to 9.026M compared to previous figure 8.925, revised from 8.79M in November Source: Bureau of Labor Statistics
๐Ÿ‡บ๐Ÿ‡ธ U.S. Housing Price Index (1-mth) in November unchanged at 0.3% compared to previous report in October.

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What can we expect from AUDUSD today?

AUDUSD on Wednesday dropped -0.54% to 0.65662. 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 0.65372 with break below could see further selling pressure towards S2 at 0.65083. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.66227 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.65510 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 January trading session down by -3.55% or -241.5 pips lower.

Key levels to watch out:

R3 0.66806
R2 0.66517
R1 0.66089
Daily Pivot 0.658
S1 0.65372
S2 0.65083
S3 0.64655

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