AUDUSD Analysis
| Performance after Wednesday | |||
| Period | Pct | Chg | Momentum |
| Wednesday | -0.74% | -52.0 Pips | ▼ |
| Week to-date | -0.41% | -29.0 Pips | ▼ |
| June | -2.35% | -169.0 Pips | ▼ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Fri 01:00 PM | USD | NONE | Juneteenth Freedom Day |
What happened lately
On Wednesday, the AUDUSD currency pair experienced a decline of 0.74%, closing at 0.70140. The trading session saw the pair reach a high of 0.70750 and a low of 0.69930. This movement in the exchange rate followed the release of the U.S. Monthly Retail Trade data, which showed a stronger-than-expected increase. The actual figure came in at 0.9%, surpassing both the consensus and previous values of 0.5%.
The stronger retail sales data from the United States may have contributed to the strengthening of the U.S. dollar, exerting downward pressure on the AUDUSD pair. However, it is important to note that the specific reasons for the currency pair’s movement are not explicitly detailed in the available economic releases.
Looking ahead, there are no significant economic events scheduled that are expected to impact the AUDUSD pair. The upcoming Juneteenth Freedom Day in the United States, marked as having no impact, is the only event on the calendar.
Overall, the market sentiment appears to be influenced by the recent U.S. retail sales data, which may have bolstered confidence in the U.S. economy and supported the dollar. However, without further economic releases or events, the precise drivers of the AUDUSD price movement remain unspecified.
What can we expect from AUDUSD today?
The AUDUSD pair closed down 0.74% on Tuesday, settling at 0.70140. The daily outlook remains bearish, with the price trading below the 9-day EMA.
📈 Bull Scenario If the AUDUSD manages to break above the daily pivot of 0.70273, it could signal a bullish move. Traders should watch for a potential test of the first resistance level at 0.70617. A further rally could see the pair targeting the second resistance level at 0.71093. | 📉 Bear Scenario On the downside, a sustained move below the daily low of 0.69930 could reinforce the bearish sentiment. The first support level to monitor is at 0.69797, with a deeper decline potentially targeting the second support level at 0.69453. Despite the rising stochastic, the overall bearish outlook suggests caution for bullish traders. |
Key levels to watch out:
| R3 | 0.71437 |
| R2 | 0.71093 |
| R1 | 0.70617 |
| Daily Pivot | 0.70273 |
| S1 | 0.69797 |
| S2 | 0.69453 |
| S3 | 0.68977 |