AUDUSD on Wednesday rose 0.97% to 0.65651. What we know.

AUDUSD Analysis

Performance after Wednesday
Wednesday0.97%62.9 Pips
Week to-date0.61%40 Pips
March1.07%69.2 Pips

Upcoming key events (London Time)

Thu 12:30 AM AUD Trade Balance (1-mth)
Thu 03:00 PM USD Federal Reserve Chair Jerome Powell testifies
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in January dropped to 8.863M compared to previous figure 9.026M in December Source: Bureau of Labor Statistics
🇦🇺 Australia GDP (3-mth) in Q4 dropped to 0.2% compared to previous figure 0.3% (revised from 0.2%) Source: Australian Bureau of Statistics
🇦🇺 Australia GDP (12-mth) in Q4 dropped to 1.5% compared to previous figure 2.1% in Q3 Source: Australian Bureau of Statistics
🇦🇺 Australia AiG Industry Index in January improved to -14.9 points compared to previous figure -27.3 points in December
🇺🇸 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 Wednesday rose 0.97% to 0.65651. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for AUDUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.66004 with break above could target R2 at 0.66356 or figure level area. While towards the downside, we are looking at daily low of 0.64921 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.65815 may suggest continuation after recent positive movement.

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

Key levels to watch out:

Daily Pivot0.65462

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