AUDUSD on Wednesday rose 0.26% to 0.68015. Pair in consolidation. How it happened.
|Performance after Wednesday|
|Week to-date||-1.08%||-74.1 Pips|
Upcoming key events (London Time)
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What happened lately
🇺🇸 U.S. Building Permits (1-mth) in May exceed forecast and rose to 1.491M compared to previous figure 1.417, revised from 1.416M in April Census Bureau
What can we expect from AUDUSD today?
AUDUSD on Wednesday rose 0.26% to 0.68015. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.67598 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.68045 or trades above daily pivot 0.67821. Break above could target R1 at 0.68239. While to the downside, we are looking at 0.67598 (S1) and daily low of 0.67404 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.68045 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:
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