AUDUSD on Thursday rose 0.10% to 0.6809. Pair in consolidation. What goes around.

AUDUSD by TradingView

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.10%	6.9 Pips
Week to-date	-0.88%	-60.4 Pips
February	-3.48%	-245.2 Pips

Upcoming key events (London Time)

No further events

What happened lately

📆 🇺🇸 USD Core Personal Consumption Expenditures (QoQ) in Q4 preliminary estimate exceed forecast and rose to 4.3% compared to previous figure 3.9% in Q3. Source
📆 ☢️ 🇺🇸 USD Gross Domestic Product Annualized in Q4 preliminary estimate below forecast and dropped to 2.7% compared to previous figure 2.9% in Q3. Source
🇺🇸 📆 USD In the week ending 18 February, the Initial Jobless Claims dropped to 192K compared to previous figure 195K (revised from 194K). Source
📆 🇺🇸 USD Chicago Fed National Activity Index in January exceed forecast and rose to 0.23 points compared to previous figure -0.46, revised from -0.49 points in December. Source
📆 🇦🇺 AUD Wage Price Index (QoQ) in Q4 below forecast and dropped to 0.8% compared to previous figure 1% in Q3. Source
📆 🇺🇸 USD S&P Global Composite PMI in February preliminary estimate exceed forecast and rose to 50.2 points compared to previous figure 46.8 points in January. Source
📆 🇺🇸 USD S&P Global Services PMI in February preliminary estimate exceed forecast and rose to 50.5 points compared to previous figure 46.8 points in January. Source
📆 🇦🇺 AUD S&P Global Services PMI in February preliminary estimate exceed forecast and rose to 49.2 points compared to previous figure 48.6 points in January. Source

What can we expect from AUDUSD today?

AUDUSD on Thursday rose 0.10% to 0.6809. Price is below 9-Day EMA while Stochastic is falling but in oversold zone.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.67787 (S1).

Looking ahead today, we are looking at 0.6865 or 0.68405 (R1) as important resistance level while to the downside, the daily low of 0.6780 and 0.67787 (S1) as key support levels. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.6842 would suggest bullish bias after recent positive movement.

For the week to-date, take note that AUDUSD is bearish as the pair posted lower by -0.88%.

Key levels to watch out:

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Minutes of the Federal Open Market Committee, January 31–February 1, 2023 Source: Federal Reserve

Last updated: 11:31 pm UTC, 23-Feb 2023

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