Interesting docket for the AUD on Wednesday, as the inflation figures during the fourth quarter will be released. Prior surveys expect the CPI to rise 2.4% on a yearly basis and 0.4% QoQ. The CPI results have grown in relevance as of late, in light of the next RBA monetary policy meeting due in early February.
At the moment, the cross is up 0.44% at 1.0563 facing the next resistance at 1.0577 (high Jan.21) followed by 1.0580 (high Jan.16) and then 1.0599 (high Jan.10).
On the downside, a break below 1.0545 (hourly high/low Jan.22) would expose 1.0505 (low Jan.22) and then 1.0493(low Jan.21).