AUDUSD on Tuesday dropped -0.64% to 0.6862. Pair in consolidation. What goes around.

AUDUSD by TradingView

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.64%	-44 Pips
Week to-date	-0.11%	-7.4 Pips
February	-2.72%	-192.2 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Minutes
Thu 01:30 PM USD Gross Domestic Product Annualized

What happened lately

📆 🇺🇸 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 Tuesday dropped -0.64% to 0.6862. 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 0.68322 (S1).

Looking ahead today, we are looking at 0.6921 or 0.69056 (R1) as important resistance level while to the downside, the daily low of 0.6846 and 0.68322 (S1) as key support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.6846 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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No major reports.

Last updated: 11:31 pm UTC, 21-Feb 2023

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