AUDUSD Analysis
| Performance after Thursday | |||
| Period | Pct | Chg | Momentum |
| Thursday | 0.44% | 30.0 Pips | ▲ |
| Week to-date | 0.35% | 24.0 Pips | ▲ |
| July | 0.03% | 2.0 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 0.44% to close at 0.69210. The day’s trading saw the pair reach a high of 0.69430 and a low of 0.68820.
In terms of economic data, the Australian International Trade in Goods report was released, showing a deficit of -3018 million AUD for the month. This was notably below the consensus expectation of a 2200 million AUD surplus and the previous figure of 1791 million AUD. Despite this negative trade balance, the AUDUSD managed to gain ground.
On the U.S. side, the Average Hourly Earnings data came in as expected with a 0.3% increase, matching both the consensus and the previous month’s figures. Meanwhile, the Nonfarm Payroll Employment report showed a significant underperformance, with only 57,000 jobs added compared to the consensus estimate of 110,000 and the previous month’s 129,000.
There are no major economic events scheduled for the near future that could impact the AUDUSD pair.
Overall, the market sentiment appears to have been influenced by the weaker-than-expected U.S. employment data, which may have contributed to the Australian dollar’s strength against the U.S. dollar, despite the disappointing trade figures from Australia. The lack of upcoming scheduled events suggests that traders may continue to focus on recent data releases for directional cues.
What can we expect from AUDUSD today?
The AUDUSD pair closed with a 0.44% gain on Thursday, reaching 0.69210. The daily outlook remains bullish, although the price is currently below the 9-day EMA, and the stochastic indicator is falling.
📈 Bull Scenario A bullish scenario could unfold if the AUDUSD breaks above the daily high of 0.69430. In this case, traders should watch for resistance at R1, which is 0.69487, and potentially further gains towards R2 at 0.69763. | 📉 Bear Scenario Conversely, a bearish scenario may develop if the pair falls below the daily pivot of 0.69153 and continues to decline past the support level at S1, which is 0.68877. Further downside could see the pair testing S2 at 0.68543. |
Key levels to watch out:
| R3 | 0.70097 |
| R2 | 0.69763 |
| R1 | 0.69487 |
| Daily Pivot | 0.69153 |
| S1 | 0.68877 |
| S2 | 0.68543 |
| S3 | 0.68267 |