AUDUSD on Tuesday dropped -0.15% to 0.6728. End February down by -4.62% or -316.1 pips lower. Pair in consolidation. What you need to know before the next trade.

AUDUSD by TradingView

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.15%	-10.1 Pips
Week to-date	0.19%	13.1 Pips
February	-4.62%	-316.1 Pips

Upcoming key events (London Time)

Wed 03:00 PM USD ISM Manufacturing PMI

What happened lately

📆 ☢️ 🇦🇺 AUD Monthly Consumer Price Index (YoY) in January below forecast and dropped to 7.4% compared to previous figure 8.4% in December. Source
📆 ☢️ 🇦🇺 AUD Gross Domestic Product (QoQ) in Q4 below forecast and dropped to 0.5% compared to previous figure 0.6% in Q3. Source
📆 🇦🇺 AUD Gross Domestic Product (YoY) in Q4 dropped to 2.7% compared to previous figure 5.9% in Q3. Source
📆 🇺🇸 USD Chicago Purchasing Managers’ Index in February below forecast and dropped to 43.6 points compared to previous figure 44.3 points in January. Source
📆 🇺🇸 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 Tuesday dropped -0.15% to 0.6728. 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 0.67002 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 0.6757 or trades above daily pivot 0.67288 while to the downside, the daily low of 0.6701 and 0.67002 (S1) as key support levels. AUDUSD need to break on either side to indicate a short-term bias. A close below 0.6701 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.

AUDUSD ended month of February trading session down by -4.62% or -316.1 pips lower.

Key levels to watch out:

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Advance U.S. International Trade in Goods Source: Census Bureau
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Advance Monthly Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau

Last updated: 02:48 am UTC, 01-Mar 2023

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