AUDUSD

The Aussie dollar fell to new multi-week low at 0.7027 in Asia on Wednesday, down nearly 1% for the session after release of Australian inflation data.
Q1 CPI miss (q/q 0.0% vs 0.2% f/c; y/y 1.3% vs 1.5% f/c) increases risk of RBA rate cut in the next policy meeting in May and weighs on Aussie, along with rise of Us dollar.
Today’s bearish acceleration marked over 76.4% retracement of bear-leg from 0.7205 (17 Apr high) and approached key support at 0.70 (8 Mar low / 50% retracement of 0.6706/0.7295 / psychological support) where strong bids can be expected.
Firm bearish setup of daily techs is supportive for further weakness, but oversold conditions suggest that bears may take a breather before attacking 0.70 support.
Broken base of thickening daily cloud (after cloud twisted on Monday), lays at 0.7090 and is expected to limit upticks and keep bears intact.

Res: 0.7080; 0.7090; 0.7116; 0.7137
Sup: 0.7027; 0.7000; 0.6955; 0.6925

AUDUSD

 

Interested in AUDUSD technicals? Check out the key levels

    1. R3 0.7216
    2. R2 0.7184
    3. R1 0.7143
  1. PP 0.7111
    1. S1 0.707
    2. S2 0.7038
    3. S3 0.6997

 

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Recommended Content


Recommended Content

Editors’ Picks

USD/JPY holds near 155.50 after Tokyo CPI inflation eases more than expected

USD/JPY holds near 155.50 after Tokyo CPI inflation eases more than expected

USD/JPY is trading tightly just below the 156.00 handle, hugging multi-year highs as the Yen continues to deflate. The pair is trading into 30-plus year highs, and bullish momentum is targeting all-time record bids beyond 160.00, a price level the pair hasn’t reached since 1990.

USD/JPY News

AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation

AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation

The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up.

AUD/USD News

Gold soars as US economic woes and inflation fears grip investors

Gold soars as US economic woes and inflation fears grip investors

Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.

Gold News

Ethereum could remain inside key range as Consensys sues SEC over ETH security status

Ethereum could remain inside key range as Consensys sues SEC over ETH security status

Ethereum appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the US SEC and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.

Read more

Bank of Japan expected to keep interest rates on hold after landmark hike

Bank of Japan expected to keep interest rates on hold after landmark hike

The Bank of Japan is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April. The BoJ will announce its decision on Friday at around 3:00 GMT.

Read more

Majors

Cryptocurrencies

Signatures