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25 Jul 2018
AUD/USD Technical Analysis: holding above 0.74 as Aussie CPI numbers come around the corner
- The Aussie is pushing into recent highs, a common congestion zone for the pair in recent weeks, as the Australian CPI figures for 2018's second quarter come in for a landing.
- CPI readings at 01:30 GMT could spark volatility as traders look to adjust their positions in relation to the RBA's odds of increasing rates in the far future, with current estimates putting the central bank on hold until sometime in 2019.
AUD/USD Chart, 15-Minute
| Spot rate: | 0.7427 |
| Relative change: | 0.10% |
| High: | 0.7432 |
| Low: | 0.7412 |
| Trend: | Bullish |
| Support 1: | 0.7412 (current day low) |
| Support 2: | 0.7363 (61.8% Fibo retracement level) |
| Support 3: | 0.7317 (previous week low) |
| Resistance 1: | 0.7436 (previous week high) |
| Resistance 2: | 0.7472 (July 10th swing high) |
| Resistance 3: | 0.7483 (July high) |