AUDUSD on Wednesday rose 0.29% to 0.67791. Pair in consolidation. What we know.

AUDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.29%	19.3 Pips
Week to-date	0.47%	32 Pips
May	2.55%	168.8 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 CPI Inflation Rate (12-mth) in April below forecast and dropped to 4.9% compared to previous figure 5% in March Bureau of Labor Statistics
🇦🇺 Retail Sales (3-mth) in Q1 exceed forecast and dropped to -0.6% compared to previous figure -0.2% in Q4

What can we expect from AUDUSD today?

AUDUSD on Wednesday rose 0.29% to 0.67791. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.67421 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.68180 or trades above daily pivot 0.678. Break above could target R1 at 0.68171. While to the downside, we are looking at 0.67421 (S1) and daily low of 0.67430 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.68180 may suggest continuation after recent positive movement.

For the week to-date, take note that AUDUSD is bullish as the pair continued to trade higher and is up by 0.47% over the past few days.

Key levels to watch out:

You might be interested in:

In April, the Consumer Price Index for All Urban Consumers increased 0.4 percent, seasonally adjusted, and rose 4.9 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in April (SA); up 5.5 percent over the year (NSA).. Bureau of Labor Statistics Publications
Monthly Wholesale Trade: Sales and Inventories. Census Bureau

Disclaimer: We do not endorsed nor verified the posts provided by Twitter. This widget is provided to you as a convenience only and is not affiliated with all parties in any way.