AUDUSD on Wednesday dropped -0.54% to 0.66542. Pair in consolidation. What we know.

AUDUSD Analysis

Performance after Wednesday
Wednesday-0.54%-35.8 Pips
Week to-date-0.09%-5.8 Pips
July-0.09%-5.8 Pips

Upcoming key events (London Time)

Thu 02:30 AM AUD Trade Balance (1-mth)
Thu 01:15 PM USD ADP Non-Farm Employment Change
Thu 03:00 PM USD ISM Services PMI
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇦🇺 Australia RBA Interest Rate Decision (Cash Rate Target) below forecast and unchanged at 4.1% compared to previous rate 4.1% Reserve Bank of Australia

AUDUSD 4-hour Chart by TradingView

What can we expect from AUDUSD today?

AUDUSD on Wednesday dropped -0.54% to 0.66542. 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 0.66369 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.66982 or trades above daily pivot 0.66676. Break above could target R1 at 0.66848. While to the downside, we are looking at 0.66369 (S1) and daily low of 0.66503 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.66503 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 Pivot0.66676

You might be interested in:

Minutes of the Federal Open Market Committee, June 13-14, 2023. Federal Reserve
Construction Spending. Census Bureau
Statement by Philip Lowe, Governor: Monetary Policy Decision. Reserve Bank of Australia

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