AUDUSD on Thursday dropped -1.1% to 0.67016. What we know.
AUDUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -1.1% | -74.4 Pips |  | ||
| Week to-date | -0.7% | -47.1 Pips |  | ||
| May | 1.36% | 89.7 Pips |  | ||
Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 In the week ending 06 May, the Initial Unemployment Insurance Claims rose to 264K compared to previous figure 242K Department of Labor
🇦🇺 Consumer Inflation Expectations in May rose to 5% compared to previous figure 4.6% in April 🇺🇸 CPI Inflation Rate (12-mth) in April below forecast and dropped to 4.9% compared to previous figure 5% in March Bureau of Labor Statistics
What can we expect from AUDUSD today?
AUDUSD on Thursday dropped -1.1% to 0.67016. Price is below 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for AUDUSD looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at S1 0.66611 with break below could see further selling pressure towards S2 at 0.66205. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.67960 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.66880 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:
| R3 | 0.68771 |
| R2 | 0.68365 |
| R1 | 0.67691 |
| Daily Pivot | 0.67285 |
| S1 | 0.66611 |
| S2 | 0.66205 |
| S3 | 0.65531 |
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In April, the Consumer Price Index for All Urban Consumers increased 0.4 percent, seasonally adjusted, and rose 4.9 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in April (SA); up 5.5 percent over the year (NSA).. Bureau of Labor Statistics Publications
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18/02/2023
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Currently looking downwards but could reverse at any point!
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