AUDUSD on Wednesday dropped -0.2% to 0.66551. Pair in consolidation. How it happened.

AUDUSD Analysis

Performance after Wednesday
Wednesday-0.2%-13.1 Pips
Week to-date0.76%50.3 Pips
June2.36%153.4 Pips

Upcoming key events (London Time)

Thu 02:30 AM AUD Trade Balance (1-mth)

What happened lately

🇺🇸 U.S. Goods and Services Trade Balance in April dropped to -74.6$ compared to previous figure -60.6$ (revised from -64.2$)
🇦🇺 GDP (12-mth) in Q1 below forecast and dropped to 2.3% compared to previous figure 2.7% in Q4 Australian Bureau of Statistics
🇦🇺 GDP (3-mth) in Q1 below forecast and dropped to 0.2% compared to previous figure 0.5% in Q4 Australian Bureau of Statistics
🇦🇺 AiG Industry Index in April improved to -10.9 points compared to previous figure -20.1 points in March
🇦🇺 RBA Interest Rate Decision (Cash Rate Target) exceed forecast and rose to 4.1% compared to previous rate 3.85% Reserve Bank of Australia

AUDUSD 4-hour Chart by TradingView

What can we expect from AUDUSD today?

AUDUSD on Wednesday dropped -0.2% to 0.66551. 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 0.66244 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.67171 or trades above daily pivot 0.66707. Break above could target R1 at 0.67015. While to the downside, we are looking at 0.66244 (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 bullish as the pair continued to trade higher and is up by 0.76% over the past few days.

Key levels to watch out:

Daily Pivot0.66707

You might be interested in:

U.S. International Trade in Goods and Services. Census Bureau
Quarterly Financial Report. Census Bureau
Quarterly Financial Report – Retail. Census Bureau
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Statement by Philip Lowe, Governor: Monetary Policy Decision. Reserve Bank of Australia

#AUDUSD Trending on Twitter

#sw_ #trader

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

Looking for buy⬆️/sell⬇️ positions:

🇪🇺🇺🇸#eurusd ⬇️
🟡 #gold ⬇️

#traders #currency #chart #investor #forex #dax #us30 #chartpattern #priceaction

#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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