AUDUSD on Wednesday rose 0.11% to 0.6590. Pair in consolidation. What you need to know before the next trade.

AUDUSD by TradingView

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.11%	7 Pips
Week to-date	-2.62%	-177.2 Pips
March	-2.07%	-139.3 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

📆 🇺🇸 USD Goods and Services Trade Balance in January below forecast and dropped to -68.3$ compared to previous figure -67.2, revised from -67.4$ in December. Source
📆 ☢️ 🇦🇺 AUD RBA Interest Rate (Cash Rate Target) rose to 3.6% compared to previous rate 3.35%. Source
📆 🇺🇸 USD Factory Orders (1-mth) in January below forecast and dropped to -1.6% compared to previous figure 1.7, revised from 1.8% in December. Source

What can we expect from AUDUSD today?

AUDUSD on Wednesday rose 0.11% to 0.6590. Price is below 9-Day EMA while Stochastic is falling but in oversold zone.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.65622 (S1).

Looking ahead today, we are looking at 0.6748 or 0.66235 (R1) as important resistance level while to the downside, the daily low of 0.6567 and 0.65622 (S1) as key support levels. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.6629 would suggest bullish bias after recent positive movement.

For the week to-date, take note that AUDUSD is bearish as the pair posted lower by -2.62%.

Key levels to watch out: