AUD/USD: looking out for key Aussie CPI's

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - AUD/USD is currently trading at 0.7201 with a high of 0.7207 in early Asia and a low of 0.7186.

    AUD/USD has been recovering out of the 0.71 handle's grip and back onto the 0.72 handle while testing the downsides resilience at this key level. The US market was weighing on the Aussie with the FOMC in the minds of desks while data out of the US economy stacks up and we await Aussie CPI's to take us from here for now. The CPI's are hinted to show the trimmed mean CPI to rise to 2.5% y/y from 2.2% which may offer some further support as we head into the release.

    AUD/USD levels

    Technically, 0.7200 is a key level at this juncture and moving on, the 200 SMA on the 1hr sticks at 0.7251 now comes as a resistance guarding the 0.73 round number ahead of the August high at 0.7439. 0.7180/72 is first and key support with the 1hr RSI (14) offering further to go at 49.
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