AUDUSD on Tuesday dropped -0.47% to 0.63392. End October down by -1.47% or -94.8 pips lower. Pair in consolidation. What we know.
|Performance after Tuesday|
|Week to-date||0.13%||8 Pips|
Upcoming key events (London Time)
Wed 06:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 06:00 PM USD FOMC Monetary Policy Statement
Thu 12:30 AM AUD Trade Balance (1-mth)
What happened lately
🇺🇸 U.S. Housing Price Index (1-mth) in August exceed forecast and dropped to 0.6% compared to previous figure 0.8% in July
🇺🇸 U.S. Employment Cost Index in Q3 exceed forecast and rose to 1.1% compared to previous figure 1% in Q2
🇦🇺 Australia Retail Trade Turnover (seasonally adjusted) (1-mth) in September exceed forecast and rose to 0.9% compared to previous figure 0.2% in August Australian Bureau of Statistics
What can we expect from AUDUSD today?
AUDUSD on Tuesday dropped -0.47% to 0.63392. Price is below 9-Day EMA while Stochastic is rising.
Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.63108 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.63740 or trades above daily pivot 0.63424. Break above could target R1 at 0.63708. While to the downside, we are looking at 0.63108 (S1) and daily low of 0.63140 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.63140 would indicate selling pressure.
For the week to-date, take note that AUDUSD is mixed as compared to the prior week.
AUDUSD ended month of October trading session down by -1.47% or -94.8 pips lower.
Key levels to watch out:
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