Participant

AUD/USD made a rebound today after CPI figures for December 2014 came in at 0.2% with a 1.7% Y/Y figure for 2014. Some expectations were for a slightly higher December monthly CPI, however it may be the markets see this yearly figure of 1.7% as being close enough to the Reserve Bank of Australia’s target CPI of 2% to 3% for a rate cut not to materialize in February.
Looking at the 1 Hr chart there’s a break above the Ichmoku cloud, indicating the chance of further upward movement. While the 1 week chart shows the candle bars very far away from the ichimoku cloud and MACD beginning to look over sold, both maybe suggesting there is room for a retracement before it actually starts coming down again.
1 Hr1 Wk

 
Participant

Yes, on long term the pair is bearish, we’ll have to wait for the FOMC Statement and Federal Funds Rate later today. If there will be no surprises the US Dollar can decrease further on short term.

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