The Aussie rebound could be fueled by higher inflation rate in last year Q4

AUD could be boosted during the Asian session, after the release of higher than expected inflation figures in the fourth quarter of last year. CPI Q4 rose yearly by 1.7%, while the market was waiting for 1.6%, after 1.5% in the third quarter showing lower probability of having further stimulating measurements by RBA which has kept the interest rate unchanged at 2% since last May. 5.

AUDUSD is now trading near 0.7030, after rebounding from 0.6916 whereas it has formed higher low above its bottom of this Jan. 15 at 0.6825.

AUDUSD is still facing difficulty to get over 0.7046 which set it back twice this month

AUDUSD daily Parabolic SAR (step 0.02, maximum 0.2) is now its fifth day of being below the trading rate reading today 0.6851.

AUDUSD daily RSI-14 is referring now to existence in its neutral area reading now 48.390 and also its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having its main line now in the neutral region but close to the overbought area above 80 reading now 75.755 and also its signal line which is referring to 74.834

Important levels: Daily SMA50 @ 0.7148, Daily SMA100 @ 0.7146 and Daily SMA200 @ 0.7349

S&R:

S1: 0.6916
S2: 0.6825
S3: 0.6769
R1: 0.7046
R2: 0.7084
R3: 0.7120

Have a good day

Walid Salah El din
Chief Tech Analyst of Trade-24

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The Aussie rebound could be fueled by higher inflation rate in last year Q4