AUDUSD on Tuesday dropped -0.05% to 0.65058. Pair in consolidation. What we know.

AUDUSD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday-0.05%-3.4 Pips
Week to-date-0.3%-19.3 Pips
March0.15%9.9 Pips

Upcoming key events (London Time)

Wed 12:30 AM AUD GDP (3-mth)
Wed 03:00 PM USD Federal Reserve Chair Jerome Powell testifies
Thu 12:30 AM AUD Trade Balance (1-mth)

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in January dropped to -3.6% compared to previous figure -0.3, revised from 0.2% in December Source: Census Bureau

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What can we expect from AUDUSD today?

AUDUSD on Tuesday dropped -0.05% to 0.65058. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.64816 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.65209 or trades above daily pivot 0.65012. Break above could target R1 at 0.65255. While to the downside, we are looking at 0.64816 (S1) and daily low of 0.64770 as support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.64770 would indicate selling pressure.

For the week to-date, take note that AUDUSD is mixed as compared to the prior week.

Key levels to watch out:

R30.65694
R20.65451
R10.65255
Daily Pivot0.65012
S10.64816
S20.64573
S30.64377

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