AUDUSD Analysis
| Performance after Thursday | |||
| Period | Pct | Chg | Momentum |
| Thursday | 0.36% | 26.0 Pips | ▲ |
| Week to-date | 0.18% | 13.0 Pips | ▲ |
| May | -0.86% | -62.0 Pips | ▼ |
Upcoming key events (GMT+8)
No major events for the day.
What happened lately
The AUDUSD currency pair experienced a modest increase on Thursday, rising by 0.36% to close at 0.71630. The trading session saw the pair reach a high of 0.71690 and a low of 0.70950, indicating a period of consolidation within this range.
The movement in the AUDUSD pair comes on the heels of the latest economic data from the United States. The PCE Price Index, excluding food and energy, was released with an actual value of 0.2%, slightly below the consensus expectation of 0.3% and the previous month’s figure of 0.3%. This data point is considered a high-impact release, often closely watched by market participants as it provides insights into inflationary pressures.
Looking ahead, there are no major economic events scheduled that could significantly impact the AUDUSD pair in the immediate future. This absence of upcoming data releases may contribute to continued consolidation in the pair as traders assess the current economic landscape.
Overall, the market sentiment appears to be one of cautious optimism, with the AUDUSD pair maintaining its position within a relatively narrow range. The recent U.S. inflation data, while slightly below expectations, does not seem to have drastically altered market perceptions, allowing the pair to hold steady. Traders may continue to monitor any developments that could influence the pair’s direction, but for now, the market remains in a wait-and-see mode.
What can we expect from AUDUSD today?
The AUDUSD pair closed at 0.71630, marking a daily gain of 0.36%. With a mixed outlook for the day, traders are watching key technical levels for potential moves.
📈 Bull Scenario A bullish scenario could unfold if the pair breaks above the daily high of 0.71690. This move could lead to testing the first resistance level at 0.71897. Further upward momentum might target the second resistance level at 0.72163, especially if the price moves above the 9-day EMA. | 📉 Bear Scenario A bearish scenario may be triggered if the AUDUSD falls below the daily pivot of 0.71423. This could lead to a test of the first support level at 0.71157. If selling pressure continues, the pair might target the second support level at 0.70683, with the falling stochastic indicator supporting this downside potential. |
Key levels to watch out:
| R3 | 0.72637 |
| R2 | 0.72163 |
| R1 | 0.71897 |
| Daily Pivot | 0.71423 |
| S1 | 0.71157 |
| S2 | 0.70683 |
| S3 | 0.70417 |