AUD/USD Price Analysis: Bulls in charge pre-CPI, eye 0.7530/50

AUD/USD is in focus as CPI looms, with bulls eyeing 0.7550 and the bears 0.7480.
0.7530 is a key options level that could give way if data comes in surprisingly hot.

Ross J Burland FXStreet

Aussie CPI is out at the top of the hour and a preview of the event can be read here.

The following is a snapshot of the hourly chart and market structure to offer traders some insight as to how the price might react to the various scenarios laid out in the above analysis. 0.7530 is a key level according to options markets while a hotter than expected print could well see the price advance significantly higher on Reserve Bank Australia expectations.

AUD/USD 1 HR chart

The price is attempting a continuation of the longer-term bullish trend following a break of the prior dynamic trendline resistances. A positive CPI outcome will likely accelerate the bulls through the horizontal resistance that has so far anchored the pair below it near 0.7515 to at least 0.7550. If, on the other hand, we see a miss, the price will likely be forced back to test the old dynamic resistance as a counter-trendline near 0.7480.

AUD/USD, 1HR, a closer look

Positive CPI prospects:

Negative CPI prospects:

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD advances above 1.1800 ahead of German inflation data

EUR/USD stretches higher above 1.1800 in the European session on Friday, helped by sustained US Dollar weakness. Attention now turns toward the release of the preliminary inflation data for February from Germany and its major states during the day.

GBP/USD struggles near 1.3500 amid UK political drama, BoE easing bias

GBP/USD struggles to build on the overnight modest bounce from the weekly low and oscillates in a narrow band near 1.3500 in European trading on Friday. The Gorton and Denton by-election, held on February 26, has become a focal point of political drama in the UK, along with the Bank of England (BoE) easing expectations, acts as a headwind for the British Pound and the GBP/USD pair.

Gold flat lines below $5,200; traders look to US PPI for fresh impetus

Gold struggles to capitalize on its modest gains registered over the past two days and trades below the $5,200 mark through the first half of the European session on Friday. Geopolitical risks remain in play amid a large US naval and air power buildup in the Middle East.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.