AUDUSD on Wednesday rose 1.11% to 0.66977. What we know.

AUDUSD on Wednesday rose 1.11% to 0.66977. What we know.

AUDUSD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday 1.11% 73.3 Pips
Week to-date 1.46% 96.7 Pips
May 3.44% 222.6 Pips

Upcoming key events (London Time)

Thu 02:30 AM AUD Labour Force Monthly Employment Change

What happened lately

๐Ÿ‡บ๐Ÿ‡ธ U.S. Retail Trade Control Group in April dropped to -0.3% compared to previous figure 1, revised from 1.1% in March Source: Census Bureau
๐Ÿ‡บ๐Ÿ‡ธ U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in April dropped to 0.3% compared to previous figure 0.4% in March Source: Bureau of Labor Statistics
๐Ÿ‡บ๐Ÿ‡ธ U.S. New York Empire State Manufacturing Index in May dropped to -15.6 points compared to previous figure -14.3 points in April
๐Ÿ‡ฆ๐Ÿ‡บ Australia Wage Price Index (3-mth) in Q1 dropped to 0.8% compared to previous figure 1% (revised from 0.9%)
๐Ÿ‡บ๐Ÿ‡ธ U.S. Producer Price Index (12-mth) in April rose to 2.2% compared to previous figure 1.8, revised from 2.1% in March
๐Ÿ‡บ๐Ÿ‡ธ U.S. Producer Price Index (1-mth) in April rose to 0.5% compared to previous figure -0.1, revised from 0.2% in March

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What can we expect from AUDUSD today?

AUDUSD on Wednesday rose 1.11% to 0.66977. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for AUDUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.67242 with break above could target R2 at 0.67506 or figure level area. While towards the downside, we are looking at daily low of 0.66209 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.66990 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 1.46% over the past few days.

Key levels to watch out:

R3 0.68023
R2 0.67506
R1 0.67242
Daily Pivot 0.66725
S1 0.66461
S2 0.65944
S3 0.6568

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