AUDUSD on Friday rose 0.12% to 0.65322. Week ending 2024-02-16 rose 0.17%. What happened.

AUDUSD Analysis

Performance
PeriodPctChgMomentum
Friday0.12%7.6 Pips
Week 2024-02-160.17%10.9 Pips
February-0.52%-34.3 Pips

Upcoming key events for the new week (London Time)

Mon 05:00 AM Presidents’ Day
Tue 12:30 AM RBA Meeting Minutes
Wed 07:00 PM FOMC Meeting Minutes
Thu 01:30 PM Initial Unemployment Insurance Claims

What happened over the week

🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in February flash estimate unchanged at 2.9% compared to previous report in January. Source: University of Michigan
🇺🇸 U.S. Michigan Index of Consumer Sentiment in February flash estimate rose to 79.6 points compared to previous figure 79 points in January Source: University of Michigan
🇺🇸 U.S. Industrial Production (1-mth) in January dropped to -0.1% compared to previous figure 0.1%
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in February rose to 5.2 points compared to previous figure -10.6 points in January
🇺🇸 U.S. Monthly Retail Trade (1-mth) in January dropped to -0.8% compared to previous figure 0.4, revised from 0.6% in December Source: Census Bureau
🇺🇸 In the week ending 10 February, U.S. Initial Unemployment Insurance Claims dropped to 212K compared to previous figure 220K (revised from 218K) Source: Department of Labor
🇺🇸 U.S. New York Empire State Manufacturing Index in February improved to -2.4 points compared to previous figure -43.7 points in January
🇺🇸 U.S. CPI Inflation Rate (1-mth) in January rose to 0.3% compared to previous figure 0.2, revised from 0.3% in December Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in January dropped to 3.1% compared to previous figure 3.4% in December Source: Bureau of Labor Statistics
🇺🇸 U.S. Monthly Budget Statement in January improved to -22$ compared to previous figure -129$ in December Source: Bureau of the Fiscal Service

From X (Twitter)


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

AUDUSD on Friday rose 0.12% to 0.65322. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2024-02-16, the pair rose 0.17% or 10.9 pips higher.

Looking ahead on Monday, AUDUSD looks bullish as the pair ended higher after Friday trading session.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.65446 or at least consolidates above Weekly Pivot level of 0.65063. On the downside, we are looking at week low 0.64422 or 0.64681 (WS1) as immediate support level. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.65446 would suggest bullish bias after recent positive movement.

For the month of February, AUDUSD is down by -0.52% or -34.3 pips lower.

Weekly key levels to watch out:

R30.66729
R20.66087
R10.65705
Weekly Pivot0.65063
S10.64681
S20.64039
S30.63657

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