AUDUSD on Wednesday dropped -0.71% to 0.64970. What we know.

AUDUSD Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday-0.71%-46.6 Pips
Week to-date-0.99%-65.2 Pips
February-1.06%-69.8 Pips

Upcoming key events (London Time)

Thu 12:30 AM AUD Retail Trade Turnover (seasonally adjusted) (1-mth)
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)

What happened lately

🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 flash estimate rose to 2.1% compared to previous figure 2% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q4 flash estimate dropped to 3.2% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇦🇺 Australia Monthly CPI Indicator (12-mth) in January unchanged at 3.4% compared to previous report in December. Source: Australian Bureau of Statistics
🇺🇸 U.S. Housing Price Index (1-mth) in December dropped to 0.1% compared to previous figure 0.4, revised from 0.3% in November
🇺🇸 U.S. Durable Goods Orders in January dropped to -6.1% compared to previous figure -0.3, revised from 0% in December Source: Census Bureau

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What can we expect from AUDUSD today?

AUDUSD on Wednesday dropped -0.71% to 0.64970. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for AUDUSD looks bearish as the pair posted lower in Wednesday trading session.

Looking ahead for the day, immediate support level is at S1 0.64737 with break below could see further selling pressure towards S2 at 0.64503. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.65496 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.64883 would indicate selling pressure.

For the week to-date, take note that AUDUSD is bearish as the pair posted lower by -0.99%.

Key levels to watch out:

R30.65963
R20.65729
R10.6535
Daily Pivot0.65116
S10.64737
S20.64503
S30.64124

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