AUDUSD gains 0.5% to close at 0.71840
AUDUSD Analysis
| Performance after Monday | |||
| Period | Pct | Chg | Momentum |
| Monday | 0.5% | 36.0 Pips | ▲ |
| Week to-date | 0.5% | 36.0 Pips | ▲ |
| April | 4.12% | 284.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Wed 09:30 AM | AUD | HIGH | Monthly CPI Indicator (12-mth) |
| Wed 09:30 AM | AUD | HIGH | Trimmed Mean CPI (12-mth) |
| Thu 02:00 AM | USD | HIGH | Fed Interest Rate Decision (Federal Funds Rate) |
| Thu 02:00 AM | USD | HIGH | FOMC Monetary Policy Statement |
| Thu 02:30 AM | USD | HIGH | FOMC Press Conference |
What happened lately
The AUDUSD currency pair experienced a notable upward movement on Monday, appreciating by 0.5% to close at 0.71840. The pair reached a high of 0.71990 and a low of 0.71240 during the trading session. This increase in the Australian dollar against the US dollar occurred despite the absence of major economic releases during the period, suggesting that the price action may have been influenced by market positioning or technical factors rather than specific economic data.
Looking ahead, traders should pay close attention to several high-impact economic events scheduled for the coming days. On Wednesday at 09:30 AM (GMT+8), Australia will release its Monthly CPI Indicator and Trimmed Mean CPI, both of which are expected to have a significant impact on the AUD. These inflation measures will provide insights into the current price pressures within the Australian economy and could influence the Reserve Bank of Australia’s monetary policy outlook.
Additionally, on Thursday at 02:00 AM (GMT+8), the United States will announce its Fed Interest Rate Decision, accompanied by the FOMC Monetary Policy Statement and a subsequent press conference at 02:30 AM. These events are anticipated to have a high impact on the USD, as market participants will be keenly observing any changes in interest rates or forward guidance from the Federal Reserve.
Overall, the market sentiment appears to be cautiously optimistic for the AUDUSD, with the recent price increase reflecting a positive bias. However, the upcoming economic releases, particularly the CPI data from Australia and the Federal Reserve’s announcements, will likely play a crucial role in shaping the pair’s direction in the near term. Traders should remain vigilant and prepared for potential volatility as these events unfold.
What can we expect from AUDUSD today?
The AUDUSD pair is showing a bullish daily outlook as it trades above the 9-day EMA, closing at 0.71840 with a daily performance of 0.5%. The pair’s weekly performance is also positive at 0.5%, although the weekly outlook remains mixed.
📈 Bull Scenario A continued bullish momentum could be triggered if the AUDUSD breaks above the daily high of 0.71990. Traders should watch for a potential test of the first resistance level at 0.7214, with a further rally possibly targeting the second resistance at 0.7244. | 📉 Bear Scenario On the downside, a bearish scenario may unfold if the pair falls below the daily pivot point of 0.7169. In such a case, the first support level at 0.7139 could be tested, with further declines potentially reaching the second support at 0.7094. The falling stochastic indicator suggests caution for bulls as it may signal weakening momentum. |
Key levels to watch out:
| R3 | 0.7289 |
| R2 | 0.7244 |
| R1 | 0.7214 |
| Daily Pivot | 0.7169 |
| S1 | 0.7139 |
| S2 | 0.7094 |
| S3 | 0.7064 |
