AUDUSD on Friday dropped -0.09% to 0.65783. Week ending 2024-01-26 moved lower by -0.23%. What happened.

AUDUSD Analysis

Performance
PeriodPctChgMomentum
Friday-0.09%-5.9 Pips
Week 2024-01-26-0.23%-15.2 Pips
January-3.37%-229.5 Pips

Upcoming key events for the new week (London Time)

Tue 12:30 AM Retail Trade Turnover (seasonally adjusted) (1-mth)
Wed 12:30 AM CPI Inflation Rate (3-mth)
Wed 12:30 AM Monthly CPI Inflation Rate (12-mth)
Wed 07:00 PM Fed Interest Rate Decision (Federal Funds Rate)
Thu 01:30 PM Initial Unemployment Insurance Claims
Fri 01:30 PM Nonfarm Payroll Employment

What happened over the week

🇺🇸 U.S. Personal Consumption Expenditures – Price Index (12-mth) in December unchanged at 2.6% compared to previous report in November. The actual figure is also in line with the forecast
🇺🇸 U.S. Gross Domestic Product Price Index in Q4 preliminary estimate below forecast and dropped to 1.5% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 preliminary estimate unchanged at 2% compared to previous report in Q3. The actual figure is also in line with the forecast Source: Bureau of Economic Analysis
🇺🇸 In the week ending 20 January, U.S. Initial Unemployment Insurance Claims rose to 214K compared to previous figure 189K (revised from 187K) Source: Department of Labor
🇺🇸 U.S. Durable Goods Orders excluding Transportation in December exceed forecast and rose to 0.6% compared to previous figure 0.4, revised from 0.5% in November Source: Census Bureau

From X (Twitter)


What can we expect from AUDUSD for the new week and what happened on Friday?

AUDUSD on Friday dropped -0.09% to 0.65783. Price is below 9-Day EMA while Stochastic is falling. For the week ending 2024-01-26, the pair dropped -0.23% or -15.2 pips lower.

Looking ahead on Monday, AUDUSD looks mixed as the pair is likely to consolidate above week low of 0.65511.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.66210 or at least consolidates above Weekly Pivot level of 0.65835. On the downside, we are looking at week low 0.65511 or 0.65459 (WS1) as immediate support level. AUDUSD need to break on either side to indicate a short-term bias. A close below week low of 0.65511 would indicate selling pressure.

For the month of January, AUDUSD is down by -3.37% or -229.5 pips lower.

Weekly key levels to watch out:

R30.66857
R20.66534
R10.66158
Weekly Pivot0.65835
S10.65459
S20.65136
S30.64760

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