Forex

AUDUSD on Tuesday dropped -0.43% to 0.63950. What we know.

AUDUSD on Tuesday dropped -0.43% to 0.63950. What we know.
AUDUSD on Tuesday dropped -0.43% to 0.63950.  What we know.

AUDUSD Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday -0.43% -27.3 Pips
Week to-date -0.67% -43 Pips
September -1.37% -89 Pips

Upcoming key events (London Time)

Wed 02:30 AM AUD Monthly CPI Inflation Rate (12-mth)
Thu 02:30 AM AUD Retail Trade Turnover (seasonally adjusted) (1-mth)
Thu 01:30 PM USD GDP Annualized
Thu 09:00 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

?? U.S. New-Home Sales Change (1-mth) in August below forecast and dropped to -8.7% compared to previous figure 4.4% in July
?? U.S. Housing Price Index (1-mth) in July exceed forecast and rose to 0.8% compared to previous figure 0.4, revised from 0.3% in June


What can we expect from AUDUSD today?

AUDUSD on Tuesday dropped -0.43% to 0.63950. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for AUDUSD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at S1 0.63778 with break below could see further selling pressure towards S2 at 0.63606. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.64304 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 0.63869 would indicate selling pressure.

For the week to-date, take note that AUDUSD is mixed as compared to the prior week.

Key levels to watch out:

R3 0.64648
R2 0.64476
R1 0.64213
Daily Pivot 0.64041
S1 0.63778
S2 0.63606
S3 0.63343

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