AUDUSD on Wednesday dropped -0.1% to 0.65341. Pair in consolidation. Why it matters.
|Performance after Wednesday|
|Week to-date||-0.48%||-31.7 Pips|
Upcoming key events (London Time)
Thu 01:30 PM USD CPI Inflation Rate (1-mth)
Thu 01:30 PM USD CPI Inflation Rate (12-mth)
Fri 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
No major activities.
What can we expect from AUDUSD today?
AUDUSD on Wednesday dropped -0.1% to 0.65341. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.65121 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.65711 or trades above daily pivot 0.65416. Break above could target R1 at 0.65636. While to the downside, we are looking at 0.65121 (S1) and daily low of 0.65196 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.65196 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:
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