AUD/USD attempting gains as RBA sees pick in global inflation

AUD/USD pair is attempting gains, now trading around 0.7735 levels on the back of slightly upbeat comments from RBA and a better-than-expected house price index number.

RBA sees pick up in global inflation

The minutes showed the policymakers see a pickup in global inflation. This could strengthen the bid tone around the Aussie as higher inflation means higher commodity prices. However, the central bank also warned about the faster rise in the household debt.

Meanwhile, Australia house price index jumped 4.1% q/q from the previous figure of 1.5%. The annualised number came-in at 7.7%.

AUD/USD Technical Levels

A break above 0.7748 (yesterday’s high) would open doors for 0.7778 (Nov 8 high). A violation there on the daily chart could see the spot target 2016 high of 0.7835. On the downside, strong support is seen at 0.7649 (Feb 21 low), which, if breached could yield a sell-off to 0.76 (zero figure) and possibly to 0.7580 (Mar 14 high).

  TREND INDEX OB/OS INDEX VOLATILY INDEX
15M Bearish Neutral Low
1H Bearish Neutral Low
4H Bullish Neutral Low
1D Bearish Neutral High
1W Bearish Neutral Expanding

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.