The currency pair AUD / USD as well as the previous day was in a state of correction. The trading range was about 125 points. At the same time Low level hit a low - 0.7898 while the High level, could be observed in the area of the bulls at the maximum - 0.8025. AUD / USD has lost most of the score after the loss level 0.8000. Recently, the price dropped to around 0.7939, its lowest level since the publication of the inflation report in Australia. AUD / USD has slipped from a high of 0.8024 and lost nearly 100 points, stated Forex Trend analysts (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
Now the pair is trading around 0.7945 / 50. As the Australian inflation report showed, in the fourth quarter CPI rose by 0.2% vs. 0.3%.
Technical Analysis
Ozzy has increased after the reports, but declined again in the European session, passing most of the positions. Experts still believe that the RBA may leave the rate at 2.5%, but the comments about the uncertainties in the global economy and low commodity prices will keep the Aussie under pressure. Short-term bonds remain lower cash rate for some time.
AUD / USD is preparing for continued growth. Price is trading at the upper level of the Ichimoku cloud and EMA moving averages (50 and 100), indicating the advantage of the bull market. MACD averages as well as OsMA pulses are mostly positive, continuing its growth point to further purchases in the future. Significant levels: Buy - 0.7947; 0.8040; Sell - 0.7859. Objectives: to increase the level of 0.8040, we expect growth to the target - 0.8124, said Forex Trend experts.
