AUDUSD on Wednesday dropped -1.02% to 0.62910. What we know.
|Performance after Wednesday|
|Week to-date||-0.29%||-18.6 Pips|
Upcoming key events (London Time)
Thu 01:30 PM USD GDP Annualized
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
What happened lately
🇦🇺 Australia Monthly CPI Inflation Rate (12-mth) in September exceed forecast and rose to 5.6% compared to previous figure 5.2% in August Australian Bureau of Statistics
What can we expect from AUDUSD today?
AUDUSD on Wednesday dropped -1.02% to 0.62910. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for AUDUSD looks bearish as the pair posted lower in Wednesday trading session.
Looking ahead for the day, immediate support level is at S1 0.62504 with break below could see further selling pressure towards S2 at 0.62097. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.63995 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.62843 would indicate selling pressure.
For the week to-date, take note that AUDUSD is bearish as the pair posted lower by -0.29%.
Key levels to watch out:
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