AUDUSD on Thursday dropped -0.54% to 0.6865. Pair in consolidation. What happened.

AUDUSD by TradingView

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.54%	-37 Pips
Week to-date	-0.71%	-49.3 Pips
February	-2.68%	-189.2 Pips

Upcoming key events (London Time)

No further events

What happened lately

📆 🇺🇸 USD Philadelphia Fed Manufacturing Survey in February below forecast and dropped to -24.3 points compared to previous figure -8.9 points in January. Source
📆 ☢️ 🇦🇺 AUD Employment Change s.a. in January below forecast and improved to -11.5K compared to previous figure -14.6K in December. Source
📆 ☢️ 🇦🇺 AUD Unemployment Rate s.a. in January exceed forecast and rose to 3.7% compared to previous figure 3.5% in December. Source
📆 🇦🇺 AUD Full-Time Employment in January dropped to -43.3K compared to previous figure 17.6K in December. Source
📆 🇦🇺 AUD Consumer Inflation Expectations in February below forecast and dropped to 5.1% compared to previous figure 5.6% in January. Source
📆 ☢️ 🇺🇸 USD Retail Sales Control Group in January exceed forecast and rose to 1.7% compared to previous figure -0.7% in December. Source
📆 ☢️ 🇺🇸 USD Consumer Price Index ex Food & Energy (YoY) in January exceed forecast and dropped to 5.6% compared to previous figure 5.7% in December. 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 Thursday dropped -0.54% to 0.6865. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for AUDUSD looks mixed as the pair is likely to consolidate above 0.68227 (S1).

Looking ahead today, we are looking at 0.6989 or 0.69217 (R1) as important resistance level while to the downside, the daily low of 0.6837 and 0.68227 (S1) as key support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.6837 would indicate selling pressure.

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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New Residential Construction Source: Census Bureau
Manufacturing and Trade Inventories and Sales Source: Census Bureau
Advanced Monthly Sales for Retail and Food Services Source: Census Bureau
CPI for all items rises 0.5% in January as shelter increases Source: Bureau of Labor Statistics Publications
Monthly Business Survey: January 2023 Source: NAB Group Economics

Last updated: 11:31 pm UTC, 16-Feb 2023

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