AUDUSD on Monday rose 0.24% to 0.6738. Pair in consolidation. What you need to know before the next trade.

AUDUSD by TradingView

Performance after Monday
Period	Pct	Chg	Momentum
Monday	0.24%	16.1 Pips
Week to-date	0.24%	16.1 Pips
February	-4.48%	-316.2 Pips

Upcoming key events (London Time)

Tue 12:30 AM AUD Retail Sales s.a. (MoM)
Wed 12:30 AM AUD Gross Domestic Product (QoQ)
Wed 12:30 AM AUD Monthly Consumer Price Index (YoY)
Wed 03:00 PM USD ISM Manufacturing PMI

What happened lately

📆 🇺🇸 USD Pending Home Sales (MoM) in January exceed forecast and rose to 8.1% compared to previous figure 1.1, revised from 2.5% in December. Source
📆 ☢️ 🇺🇸 USD Durable Goods Orders in January exceed forecast and dropped to -4.5% compared to previous figure 5.1, revised from 5.6% in December. Source

What can we expect from AUDUSD today?

AUDUSD on Monday rose 0.24% to 0.6738. Price is below 9-Day EMA while Stochastic is rising but in oversold zone.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.67071 (S1).

Looking ahead today, we are looking at 0.6824 or 0.67569 (R1) as important resistance level while to the downside, the daily low of 0.6695 and 0.67071 (S1) as key support levels. AUDUSD need to break on either side to indicate a short-term bias. A break above 0.6745 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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Advance Monthly Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau

Last updated: 11:31 pm UTC, 27-Feb 2023

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