AUDUSD on Thursday rose 0.47% to 0.67021. Pair in consolidation. What is going on.

AUDUSD Analysis

Performance after Thursday
Thursday0.47%31.5 Pips
Week to-date1.35%89.3 Pips
May1.35%89.3 Pips

Upcoming key events (London Time)

Fri 02:30 AM AUD RBA Monetary Policy Statement
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

USD Nonfarm Business Labor Productivity in Q1 preliminary estimate dropped to -2.7% compared to previous figure 1.6% (revised from 1.7%). Bureau of Labor Statistics
🇺🇸 In the week ending 29 April, the Initial Unemployment Insurance Claims rose to 242K compared to previous figure 229K (revised from 230K) Department of Labor
🇺🇸 Goods and Services Trade Balance in March exceed forecast and improved to -64.2$ compared to previous figure -70.6, revised from -70.5$ in February
🇦🇺 Trade Balance (1-mth) in March exceed forecast and rose to 15269M compared to previous figure 13870M in February Australian Bureau of Statistics
🇦🇺 Exports (1-mth) in March rose to 4% compared to previous figure -3% in February
🇦🇺 Imports (1-mth) in March rose to 2% compared to previous figure -9% in February
🇺🇸 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

AUDUSD 4-hour Chart by TradingView

What can we expect from AUDUSD today?

AUDUSD on Thursday rose 0.47% to 0.67021. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.66593 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.67062 or trades above daily pivot 0.66827. Break above could target R1 at 0.67256. While to the downside, we are looking at 0.66593 (S1) and daily low of 0.66399 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.67062 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:

Daily Pivot0.66827

You might be interested in:

U.S. International Trade in Goods and Services. Census Bureau
Housing Vacancies and Homeownership. Census Bureau
Rental Vacancy Rate. Census Bureau
Australia records $15,269m trade surplus in March. Australian Bureau of Statistics
Federal Reserve issues FOMC statement. Federal Reserve
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
March retail sales rise 0.4%. Australian Bureau of Statistics
Statement by Philip Lowe, Governor: Monetary Policy Decision. Reserve Bank of Australia

#AUDUSD Trending on Twitter

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Looking for buy⬆️/sell⬇️ positions:

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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!

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