AUDUSD on Friday rose 0.37% to 0.64376. Week ending 2023-09-22 rose 0.15%. What happened.

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AUDUSD Analysis

Week Ending 2023-09-22
Open High Low Close
0.64 0.65 0.64 0.64
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

AUDUSD Chart by TradingView

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

You might also be interested in:

U.S. International Transactions, 2nd Quarter 2023 Source: Bureau of Economic Analysis
Federal Reserve Board and Federal Open Market Committee release economic projections from the September 19-20 FOMC meeting Source: Federal Reserve
Federal Reserve issues FOMC statement Source: Federal Reserve
New Residential Construction Source: Census Bureau
Advance U.S. International Trade in Goods Source: Census Bureau
Business Formation Statistics Source: Census Bureau

#AUDUSD trending on Twitter

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