AUDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	1.54%	103.2 Pips
Week to-date	1.5%	100.3 Pips
July	1.93%	128.3 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Producer Price Index excluding Food and Energy sectors (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in June below forecast and dropped to 0.2% compared to previous figure 0.4% in May Bureau of Labor Statistics

What can we expect from AUDUSD today?

AUDUSD on Wednesday rose 1.54% to 0.67883. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for AUDUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.68289 with break above could target R2 at 0.68694 or figure level area. While towards the downside, we are looking at daily low of 0.66822 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.67961 may suggest continuation after recent positive movement.

For the week to-date, take note that AUDUSD is bullish as the pair continued to trade higher and is up by 1.5% over the past few days.

Key levels to watch out:

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