AUDUSD on Wednesday rose 0.67% to 0.64960. Pair in consolidation. What is going on.

AUDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.67%	43.5 Pips
Week to-date	-0.39%	-25.3 Pips
February	-1.07%	-70.5 Pips

Upcoming key events (London Time)

Thu 12:30 AM AUD Labour Force Monthly Employment Change
Thu 01:30 PM USD Monthly Retail Trade (1-mth)
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

🇺🇸 U.S. CPI Inflation Rate (1-mth) in January rose to 0.3% compared to previous figure 0.2, revised from 0.3% in December Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in January dropped to 3.1% compared to previous figure 3.4% in December Source: Bureau of Labor Statistics

Latest from X (Twitter)

Tweets by Australian Bureau of Statistics

What can we expect from AUDUSD today?

AUDUSD on Wednesday rose 0.67% to 0.64960. 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 0.64624 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.64965 or trades above daily pivot 0.64795. Break above could target R1 at 0.6513. While to the downside, we are looking at 0.64624 (S1) and daily low of 0.64459 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.64965 may suggest continuation after recent positive movement.

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

Key levels to watch out: