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We expect AUDUSD to trend upwards today.

Based on the last 12 Consumer Confidence Flash events in Euro Area, we could expect AUDUSD to trend upwards later today. Based on these past events there is a 71.43% chance of this. We expect AUDUSD to trend upwards 48 hours following the event release at 20 May 14:00 if the released value is < -21.5. A price movement of 93 pips could result. Historical events that allowed us to draw this conclusion

23 Mar 15:00
18 Feb 15:00
21 Dec 15:00
23 Aug 14:00
22 Jun 14:00

All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).

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