AUDUSD on Friday rose 0.11% to 0.65642. Week ending 2024-02-23 rose 0.56%. What’s going on.

AUDUSD Analysis

Friday0.11%7.3 Pips
Week 2024-02-230.56%36.3 Pips
February-0.04%-2.3 Pips

Upcoming key events for the new week (London Time)

Wed 12:30 AM Monthly CPI Inflation Rate (12-mth)
Wed 01:30 PM GDP Annualized
Thu 12:30 AM Retail Trade Turnover (seasonally adjusted) (1-mth)
Thu 01:30 PM Initial Unemployment Insurance Claims
Thu 01:30 PM Personal Consumption Expenditures Price Index (12-mth)
Thu 01:30 PM Personal Consumption Expenditures Price Index (1-mth)

What happened over the week

🇦🇺 Australia Wage Price Index (3-mth) in Q4 dropped to 0.9% compared to previous figure 1.3% in Q3

From X (Twitter)

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

AUDUSD on Friday rose 0.11% to 0.65642. Price is above 9-Day EMA while Stochastic is falling. For the week ending 2024-02-23, the pair rose 0.56% or 36.3 pips higher.

Looking ahead on Monday, AUDUSD looks mixed as the pair is likely to consolidate above week low of 0.65209.

As for the new week, our technical outlook looks bullish, immediate upside resistance level at 0.65992 (WR1) with break above could target 0.66341 (WR2). On the downside, we are looking at week low of 0.65209 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.65950 would suggest bullish bias after recent positive movement.

For the month of February, AUDUSD is down by -0.04% or -2.3 pips lower.

Weekly key levels to watch out:

Weekly Pivot0.65600

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