AUDUSD on Thursday dropped -0.04% to 0.64291. Pair in consolidation. What we know.

AUDUSD Analysis

Performance after Thursday
Thursday-0.04%-2.4 Pips
Week to-date1.54%97.4 Pips
November1.45%92.1 Pips

Upcoming key events (London Time)

Fri 12:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in September exceed forecast and rose to 2.8% compared to previous figure 1, revised from 1.2% in August Census Bureau
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q3 preliminary estimate exceed forecast and rose to 4.7% compared to previous figure 3.5% in Q2 Bureau of Labor Statistics
🇺🇸 U.S. Challenger Job Cuts in October dropped to 36.836K compared to previous figure 47.457K in September
🇦🇺 Australia Trade Balance (1-mth) in September below forecast and dropped to 6786M compared to previous figure 9640M in August Australian Bureau of Statistics
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Federal Reserve
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in September exceed forecast and rose to 9.553M compared to previous figure 9.497, revised from 9.61M in August Bureau of Labor Statistics
🇦🇺 Australia Building Permits (1-mth) in September below forecast and dropped to -4.6% compared to previous figure 7% in August Australian Bureau of Statistics


What can we expect from AUDUSD today?

AUDUSD on Thursday dropped -0.04% to 0.64291. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.6409 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.64557 or trades above daily pivot 0.64324. Break above could target R1 at 0.64524. While to the downside, we are looking at 0.6409 (S1) and daily low of 0.64123 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.64123 would indicate selling pressure.

For the week to-date, take note that AUDUSD is bullish as the pair continued to trade higher and is up by 1.54% over the past few days.

Key levels to watch out:

Daily Pivot0.64324

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