AUDUSD Moving Into Technical Resistance After CPI
AUD is the mover of the day after CPI yoy jumped unexpectedly to 8.4% in Australia up from 7.3%. Thats big and can potentially mean that RBA will be foreced to raise rates further. AUDUSD is moving aggressively higher, but still trading at some key resistance levels here, with fifth wave. A lot of major currenices are trading at resistance vs USD, so if suddenly USD index would rally, then Aussie can come back down, but would most likely suffer less than others. From a longer term perspective we see AUDUSD clearly in bullish mode for much more upside, but ideally after a higher degree pullback.
Explore our services
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.