AUDUSD on Tuesday rose 0.31% to 0.6986. Looking bullish. What you need to know before the next trade.

AUDUSD by TradingView

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.31%	21.5 Pips
Week to-date	1.03%	71.5 Pips
February	-0.97%	-68.4 Pips

Upcoming key events (London Time)

Wed 12:15 AM AUD RBA’s Governor Lowe speech
Wed 01:30 PM USD Retail Sales (MoM)
Wed 01:30 PM USD Retail Sales Control Group
Thu 12:30 AM AUD Employment Change s.a.
Thu 12:30 AM AUD Unemployment Rate s.a.
Thu 10:30 PM AUD RBA’s Governor Lowe speech

What happened lately

📆 ☢️ 🇺🇸 USD Consumer Price Index ex Food & Energy (MoM) in January unchanged at 0.4% compared to previous report in December. The actual figure is also in line with the forecast. Source
📆 🇦🇺 AUD Westpac Consumer Confidence in February exceed forecast and dropped to -6.9% compared to previous figure 5% in January. Source

What can we expect from AUDUSD today?

AUDUSD on Tuesday rose 0.31% to 0.6986. Price is above 9-Day EMA while Stochastic is rising.

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

Looking ahead for the day, immediate upside resistance level is at 0.70375 (R1) while on the downside, we are looking at daily low of 0.6918 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 0.7029 would suggest bullish bias after recent positive movement.

For the week to-date, take note that AUDUSD is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

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Monthly Business Survey: January 2023 Source: NAB Group Economics

Last updated: 11:31 pm UTC, 14-Feb 2023

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