AUDUSD on Wednesday dropped -0.35% to 0.67033. Pair in consolidation. What we know.
|Performance after Wednesday|
|Week to-date||-0.07%||-4.8 Pips|
Upcoming key events (London Time)
Thu 02:00 AM AUD RBA’s Governor Philip Lowe speech
What happened lately
🇺🇸 Building Permits (1-mth) in March below forecast and dropped to 1.413M compared to previous figure 1.55, revised from 1.524M in February Census Bureau
What can we expect from AUDUSD today?
AUDUSD on Wednesday dropped -0.35% to 0.67033. 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 0.66811 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.67413 or trades above daily pivot 0.67112. Break above could target R1 at 0.67334. While to the downside, we are looking at 0.66811 (S1) and daily low of 0.66890 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.66890 would indicate selling pressure.
For the week to-date, take note that AUDUSD is mixed as compared to the prior week.
Key levels to watch out:
You might be interested in:
Minutes of the Board’s discount rate meetings from February 21 through March 22, 2023. Federal Reserve
New Residential Construction. Census Bureau
Business Formation Statistics. Census Bureau
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