AUDUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.21%	-13 Pips
Week to-date	0.43%	27.2 Pips
October	-1.74%	-112.1 Pips

Upcoming key events (London Time)

Fri 01:00 AM USD President Joe Biden speech

What happened lately

🇺🇸 In the week ending 14 October, U.S. Initial Unemployment Insurance Claims dropped to 198K compared to previous figure 209K Department of Labor
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in October exceed forecast and improved to -9 points compared to previous figure -13.5 points in September
🇺🇸 U.S. Building Permits (1-mth) in September dropped to 1.475M compared to previous figure 1.541M (revised from 1.543M) Census Bureau

What can we expect from AUDUSD today?

AUDUSD on Thursday dropped -0.21% to 0.63219. Price is below 9-Day EMA while Stochastic is rising.

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 0.62927 with break below could see further selling pressure towards S2 at 0.62636. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.63566 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.62955 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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Powell, Opening Remarks. Federal Reserve
New Residential Construction. Census Bureau
Manufacturing and Trade Inventories and Sales. Census Bureau
Minutes of the Board’s discount rate meetings from August 21 and September 20, 2023. Federal Reserve
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