AUDUSD: The short term momentum indicators are pointing sharply higheR

 AudUsd collapsed to 0.7776 following the US CPI before roaring back after the weak Retail Sales data, to finish the session at the high of 0.7933. We now await the Australian Unemployment figures (exp +15k, 5.5%).

1 hour/4 hour indicators: Up

Daily Indicators: Neutral

Weekly Indicators:  Neutral

Preferred Strategy:   The short term momentum indicators are pointing sharply higher today, suggesting a run towards 0.7945 and possibly on towards 0.7990/0.8000.

The dailies are now rather neutral, giving little hint either way and I think ahead of the unemployment data a neutral stance is prudent, beyond which, go with the flow. Technically, it does look as though a test of 0.8000 is on the cards.

Economic data highlights will include:               

Consumer Inflation Expectation, New Motor Vehicle Sales, Unemployment, China New Years Eve

All content on this website, www.fxcharts.com.au (FX Charts PL) is a personal view only and offers absolutely no guarantee as to the correctness or otherwise of that opinion. The content here is of a “general nature” only and does not constitute personal or investment advice. The FX Charts website is not an inducement to trade Foreign Exchange (FX). No liability whatsoever is accepted for any loss or damage that may result, directly or indirectly, from any , comment, opinion, information or omission, whether negligent or otherwise, within the FX Charts Website. The information and any opinion or outlook expressed in this commentary may be based on assumptions or market conditions and may be liable change at any time, without notice.