Instrument: AUDUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 0.72273 with take profit at 0.72373.
Bearish Preference:
Sell position is envisaged if price trades below 0.71938 with take profit at 0.71818.
Fundamentals:
2:30pm USD Core CPI
Comment: The dollar was down on Wednesday morning in Asia, dropping to its weakest since November 2021 after U.S. Federal Reserve Chairman Jerome Powell’s warning that it could take several months to decide on running down the central bank’s $9 trillion balance sheet. Investors now await the U.S. CPI and Fed Beige Book, due later in the day. The PPI will follow a day later.
Analysis: SCRUM Team