USD CPI Boosts: Monitoring AUDUSD for Selling Opportunity

Hey Traders, in today's trading session we are monitoring AUDUSD For a selling opportunity around 0.65400 zone, AUDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.65400 support and resistance area. The recent release of higher-than-expected CPI data in the United States has strengthened the US dollar, putting downward pressure on AUDUSD. The stronger-than-anticipated inflation figures have fueled speculation of a more hawkish stance by the Federal Reserve, leading to expectations of USD strength. In light of this, we are monitoring AUDUSD for a potential selling opportunity around the 0.65400 zone, as the USD's strength may outweigh any potential upside in the Australian dollar. Trade safe, Joe.

Kommentera:

Didn't got triggered from the main entry, but watching another one below!