Identifying trends in FX charts

AUD/USD consolidates gains below 0.6500 in Wednesday's Asian trading, failing to find any impetus from hotter-than-expected Australian Wage Price Index data. Tuesday's softer US CPI data keep the US Dollar on the defensive, validating the positive outlook for the pair amid the US-China trade deal optimism. 

USD/JPY changes courses and drops to test 147.00 in the Asian session on Wednesday. The Japanese Yen rebounds after a 4% growth in the country's PPI inflation data for April, which rekinled the pressure on the BoJ to raise interest rates sooner than later. A subdued US Dollar also adds to the pair's downside. 

Gold price is reversing a part of the previous rebound from weekly lows early Wednesday as sellers attempt to regain control amid optimism over potential US trade deals with some of its major trading partners.  

Bitcoin, Ethereum, and Ripple continue to show strength as the broader crypto market sustains its bullish momentum. BTC is testing a critical resistance level that could mark a fresh push toward record highs, while ETH remains supported by a key level, signaling potential for upward continuation. 

Markets roared back to life as the US and China hit pause on their escalating trade war, with both sides emphasizing mutual respect and dignity. But it wasn’t the fine print that moved markets—it was the mood shift. Investors rushed back into risk assets, betting that the worst might be behind us.

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