AUDUSD on Friday rose 0.22% to 0.65320. Week ending 2024-04-26 rose 1.81%. What’s going on.

AUDUSD Analysis

Performance
Period	Pct	Chg	Momentum
Friday	0.22%	14.4 Pips
Week 2024-04-26	1.81%	116 Pips	April	0.17%	11 Pips

Upcoming key events for the new week (London Time)

Tue 02:30 AM Retail Trade Turnover (seasonally adjusted) (1-mth)
Wed 07:00 PM Fed Interest Rate Decision (Federal Funds Rate)
Thu 02:30 AM Trade Balance (1-mth)
Thu 01:30 PM Initial Unemployment Insurance Claims
Fri 01:30 PM Average Hourly Earnings (1-mth)
Fri 01:30 PM Average Hourly Earnings (12-mth)
Fri 01:30 PM Nonfarm Payroll Employment

What happened over the week

🇺🇸 U.S. Michigan Index of Consumer Sentiment in April dropped to 77.2 points compared to previous figure 77.9 points in March Source: University of Michigan
🇺🇸 U.S. Personal Spending in March unchanged at 0.8% compared to previous report in February. Source: Bureau of Economic Analysis
🇺🇸 U.S. Personal Consumption Expenditures – Price Index (12-mth) in March rose to 2.7% compared to previous figure 2.5% in February
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q1 flash estimate rose to 3.7% compared to previous figure 2% in Q4 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q1 flash estimate dropped to 1.6% compared to previous figure 3.4% in Q4 Source: Bureau of Economic Analysis
🇺🇸 In the week ending 20 April, U.S. Initial Unemployment Insurance Claims dropped to 207K compared to previous figure 212K Source: Department of Labor
🇺🇸 U.S. Durable Goods Orders in March rose to 1.4% compared to previous figure 0.7% (revised from 1.4%) Source: Census Bureau
🇺🇸 U.S. Nondefense Capital Goods Orders excluding Aircraft in March dropped to 0.2% compared to previous figure 0.4% (revised from 0.7%) Source: Census Bureau
🇦🇺 Australia CPI Inflation Rate (3-mth) in Q1 rose to 1% compared to previous figure 0.6% in Q4 Source: Australian Bureau of Statistics
🇦🇺 Australia CPI Inflation Rate (12-mth) in Q1 dropped to 3.6% compared to previous figure 4.1% in Q4 Source: Australian Bureau of Statistics

From X (Twitter)

🇦🇺 Australia CPI Inflation Rate (12-mth) in Q1 dropped to 3.6% compared to previous figure 4.1% in Q4https://t.co/AvHfS9C94h

— Market Recap Today (@forexforum) April 28, 2024

What can we expect from AUDUSD for the new week and what happened on Friday?

AUDUSD on Friday rose 0.22% to 0.65. Price is above 9-Day EMA while Stochastic is falling in overbought zone. For the week ending 2024-04-26, the pair rose 1.81% or 116 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 looks bullish, immediate upside resistance level at 0.66 (WR1) with break above could target 0.66 (WR2). On the downside, we are looking at week low of 0.64 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.66 would suggest bullish bias after recent positive movement.

For the month of April, AUDUSD is up by 0.17% or 11 pips higher.

Weekly key levels to watch out:

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Gross Domestic Product, First Quarter 2024 (Advance Estimate) Source: Bureau of Economic Analysis