AUDUSD on Wednesday dropped -0.3% to 0.66422. Pair in consolidation. What we know.

AUDUSD Analysis

Performance after Wednesday
Wednesday-0.3%-19.7 Pips
Week to-date0.47%31.2 Pips
May0.47%31.2 Pips

Upcoming key events (London Time)

Thu 02:30 AM AUD Trade Balance (1-mth)
Fri 02:30 AM AUD RBA Monetary Policy Statement
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Federal Reserve
🇦🇺 Retail Trade Turnover (seasonally adjusted) (1-mth) in March exceed forecast and rose to 0.4% compared to previous figure 0.2% in February Australian Bureau of Statistics
🇺🇸 Factory Orders (1-mth) in March exceed forecast and rose to 0.9% compared to previous figure -1.1, revised from -0.7% in February Census Bureau
🇦🇺 RBA Interest Rate Decision (Cash Rate Target) exceed forecast and rose to 3.85% compared to previous rate 3.6% Reserve Bank of Australia

AUDUSD 4-hour Chart by TradingView

What can we expect from AUDUSD today?

AUDUSD on Wednesday dropped -0.3% to 0.66422. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.66205 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.67029 or trades above daily pivot 0.66617. Break above could target R1 at 0.66834. While to the downside, we are looking at 0.66205 (S1) and daily low of 0.66400 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.66400 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:

Daily Pivot0.66617

You might be interested in:

Federal Reserve issues FOMC statement. Federal Reserve
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
March retail sales rise 0.4%. Australian Bureau of Statistics
Construction Spending. Census Bureau
Statement by Philip Lowe, Governor: Monetary Policy Decision. Reserve Bank of Australia

#AUDUSD Trending on Twitter

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Interesting markets for the coming week,April 3th-7th

Looking for buy⬆️/sell⬇️ positions:

🇪🇺🇺🇸#eurusd ⬇️
🟡 #gold ⬇️

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#AUDUSD is the most dicey pair in the forex market right now!

Currently looking downwards but could reverse at any point!

#AustraliaGP #forexmarket #forexnews

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