AUDUSD Analysis
| Week Ending 2023-09-22 | |||
| Open | High | Low | Close |
| 0.64 | 0.65 | 0.64 | 0.64 |
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | 0.37% | 23.5 Pips |  |
||
| Week 2023-09-22 | 0.15% | 9.6 Pips | |
||
| September | -0.71% | -46 Pips |  |
||
Upcoming key events for the new week (London Time)
Wed 02:30 AM Monthly CPI Inflation Rate (12-mth) Thu 02:30 AM Retail Trade Turnover (seasonally adjusted) (1-mth)
Thu 01:30 PM Initial Unemployment Insurance Claims Thu 01:30 PM GDP Annualized Thu 09:00 PM Federal Reserve Chair Jerome Powell speech Fri 01:30 PM Core Personal Consumption Expenditures – Price Index (1-mth) Fri 01:30 PM Core Personal Consumption Expenditures – Price Index (12-mth)
What happened over the week
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in September exceed forecast and dropped to -13.5 points compared to previous figure 12 points in August
🇺🇸 In the week ending 16 September, U.S. Initial Unemployment Insurance Claims dropped to 201K compared to previous figure 221K (revised from 220K) Source: Department of Labor
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
What can we expect from AUDUSD for the new week and what happened on Friday?
AUDUSD on Friday rose 0.37% to 0.64. Price is above 9-Day EMA while Stochastic is falling. For the week ending 2023-09-22, the pair rose 0.15% or 9.6 pips higher.
Looking ahead, AUDUSD looks mixed as the pair is likely to consolidate above week low of 0.64.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.65 or at least consolidates above Weekly Pivot level of 0.64. On the downside, we are looking at week low 0.64 or 0.64 (WS1) as immediate support level. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.65 would suggest bullish bias after recent positive movement.
For the month of September, AUDUSD is down by -0.71% or -46 pips lower.
Weekly key levels to watch out:
| R3 | 0.66 |
| R2 | 0.66 |
| R1 | 0.65 |
| Weekly Pivot | 0.64 |
| S1 | 0.64 |
| S2 | 0.63 |
| S3 | 0.63 |
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