AUDUSD on Tuesday dropped -0.45% to 0.64563. Pair in consolidation. What happened.

AUDUSD Analysis

Performance after Tuesday
Tuesday-0.45%-29.1 Pips
Week to-date-0.64%-41.9 Pips
August-3.88%-260.8 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Meeting Minutes
Thu 02:30 AM AUD Employment Change (seasonally adjusted)
Thu 02:30 AM AUD Unemployment Rate (seasonally adjusted)

What happened lately

🇺🇸 U.S. Retail Trade Control Group in July rose to 1% compared to previous figure 0.5% (revised from 0.6%) Census Bureau
🇦🇺 Australia Wage Price Index (3-mth) in Q2 exceed forecast and rose to 3.6% compared to previous figure 0.8% in Q1

AUDUSD 4-hour Chart by TradingView

What can we expect from AUDUSD today?

AUDUSD on Tuesday dropped -0.45% to 0.64563. 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 0.64293 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.65218 or trades above daily pivot 0.64755. Break above could target R1 at 0.65026. While to the downside, we are looking at 0.64293 (S1) and daily low of 0.64485 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.64485 would indicate selling pressure.

For the week to-date, take note that AUDUSD is bearish as the pair posted lower by -0.64%.

Key levels to watch out:

Daily Pivot0.64755

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Advanced Monthly Sales for Retail and Food Services. Census Bureau

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