AUD/USD Into CPI

January 25, 2017

Find your levels and trade your levels!

With AUD/USD bouncing off support, price has continued to rally for the last 2 weeks, gaining over 400 pips. Happy days for anyone that either stayed long, or bought any sort of pullbacks into previous short term resistance turned support.

AUD CPI q/q: 0.7% expected v 0.7% previous.
AUD Trimmed Mean CPI q/q: 0.5% expected v 0.4% previous.

But with Australian CPI data out this morning, could this be the catalyst to provide a bit of a ceiling for the pair?

AUD/USD Daily:
160125_audusd_daily
Click on chart to see a larger view.

It’s always hard to find reasons to fade a pair with momentum behind it like this, but this is the sort of are where sellers are going to be looking for any chance to take back some control.

With price hitting previous support that could possibly act as resistance, a weak number could easily see price rejected.

How are you looking to play AUD/USD here? Open a live forex account with top Australian forex broker, Vantage FX.

Dane Williams – @VantageFX

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Forex broker Vantage FX Pty Ltd does not contain a record of our prices or solicitation to trade. All opinions, forex news, research, tools, prices or other information is provided as general market commentary and marketing communication – not as investment advice. Consequently, any person acting on it does so entirely at their own risk. The expert writers express their personal opinions and will not assume any responsibility whatsoever for the Forex account of the reader. We always aim for maximum accuracy and timeliness, and FX broker Vantage FX shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.

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