AUDUSD on Wednesday dropped -0.08% to 0.67848. What we know.

AUDUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.08%	-5.2 Pips
Week to-date	-0.04%	-2.5 Pips
August	3.64%	238.3 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP annual rate
Fri 02:30 AM AUD Retail Trade Turnover (seasonally adjusted) (1-mth)
Fri 01:30 PM USD PCE Price Index (excluding food and energy) (1-mth)
Fri 01:30 PM USD PCE Price Index (excluding food and energy) (12-mth)

What happened lately

🇦🇺 Australia’s Monthly CPI Indicator (12-mth) in July dropped to 3.5% from the previous figure of 3.8% in June. Source: Australian Bureau of Statistics
🇺🇸 U.S. House Price Index (1-mth) in June dropped to -0.1% from 0% in May. Source: FHFA

Latest from X (Twitter)

Tweets by Australian Bureau of Statistics

What can we expect from AUDUSD today?

AUDUSD on Wednesday dropped -0.08% to 0.67848. Price is above 9-Day EMA while Stochastic is rising.

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 0.67615 with break below could see further selling pressure towards S2 at 0.67382. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.68129 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.67639 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:

#AUDUSD Trending on Twitter

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