AUDUSD on Wednesday rose 1.49% to 0.6788. End November up by 6.14% or 292.8 pips higher. Buying interest. What happened.

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Wednesday
Open High Low Close
0.66832 0.68010 0.66670 0.67876
Performance after Wednesday
Period Pct Chg Momentum
Wednesday 1.49% 99.7 Pips
Week to-date 0.75% 50.4 Pips
November 6.14% 292.8 Pips

Upcoming key events (London Time)

Thu 03:00 PM USD ISM Manufacturing PMI
Fri 02:00 AM AUD RBA’s Governor Lowe speech
Fri 01:30 PM USD Nonfarm Payrolls

What happened lately

📆 🇦🇺 AUD AiG Performance of Mfg Index in November dropped to 44.7 points compared to previous figure 49.6 points in October. Source
📆 🇺🇸 USD Pending Home Sales (MoM) in October below forecast and improved to -4.6% compared to previous figure -8.7, revised from -10.2% in September. Source
📆 🇺🇸 USD Chicago Purchasing Managers’ Index in November below forecast and dropped to 37.2 points compared to previous figure 45.2 points in October. Source
📆 ☢️ 🇺🇸 USD Gross Domestic Product Annualized in Q3 preliminary estimate exceed forecast and rose to 2.9% compared to previous figure 2.6% in Q2. Source
📆 🇺🇸 USD Core Personal Consumption Expenditures (QoQ) in Q3 preliminary estimate exceed forecast and rose to 4.6% compared to previous figure 4.5% in Q2. Source
📆 ☢️ 🇺🇸 USD ADP Employment Change in November below forecast and dropped to 127K compared to previous figure 239K in October. Source
📆 ☢️ 🇦🇺 AUD Monthly Consumer Price Index (YoY) in October below forecast and dropped to 6.9% compared to previous figure 7.3% in September. Source
📆 🇦🇺 AUD Building Permits (MoM) in October exceed forecast and dropped to -6% compared to previous figure -5.8% in September. Source
📆 🇺🇸 USD Housing Price Index (MoM) in September exceed forecast and rose to 0.1% compared to previous figure -0.7% in August. Source
📆 🇺🇸 USD S&P/Case-Shiller Home Price Indices (YoY) in September below forecast and dropped to 10.4% compared to previous figure 13.1% in August. Source
📆 ☢️ 🇦🇺 AUD Retail Sales s.a. (MoM) in October below forecast and dropped to -0.2% compared to previous figure 0.6% in September. Source


What can we expect from AUDUSD today?

AUDUSD on Wednesday rose 1.49% to 0.6788. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for AUDUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is at 0.68367 (R1) while on the downside, we are looking at daily low of 0.6667 as an important support. Break below this level could weaken the current bullish momentum. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.6801 would suggest bullish bias after recent positive movement.

For the week to-date, take note that AUDUSD is bullish as the pair continued to trade higher and is up by 0.75% over the past few days.

AUDUSD ended month of November trading session up by 6.14% or 292.8 pips higher.

Key levels to watch out:

R3 0.69707
R2 0.68859
R1 0.68367
Daily Pivot 0.67519
S1 0.67027
S2 0.66179
S3 0.65687

You might also be interested in:

Gross Domestic Product, (Second Estimate) and Corporate Profits (Preliminary), 3rd Quarter 2022 Source: Bureau of Economic Analysis
Minutes of the Board’s discount rate meetings on October 3 through November 2, 2022 Source: Federal Reserve
Advance Retail Inventories Source: Census Bureau
Advanced Monthly Sales for Retail and Food Services Source: Census Bureau

Last updated: 02:53 am UTC, 01-Dec 2022

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