AUDUSD on Thursday dropped -0.24% to 0.65172. What is going on.

AUDUSD Analysis

Performance after Thursday
Thursday-0.24%-15.8 Pips
Week to-date-0.75%-49 Pips
August-2.97%-199.6 Pips

Upcoming key events (London Time)

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

🇺🇸 In the week ending 05 August, U.S. Initial Unemployment Insurance Claims rose to 248K compared to previous figure 227K Department of Labor
🇦🇺 Australia Consumer Inflation Expectations in August below forecast and dropped to 4.9% compared to previous figure 5.2% in July

AUDUSD 4-hour Chart by TradingView

What can we expect from AUDUSD today?

AUDUSD on Thursday dropped -0.24% to 0.65172. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for AUDUSD looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at S1 0.648 with break below could see further selling pressure towards S2 at 0.64429. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.66165 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.65111 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 Pivot0.65483

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