|
Currency
|
Last
|
High
|
Low
|
Daily Change (pip)
|
Daily Range (pip)
|
|
AUD/USD
|
0.7636
|
0.7648
|
0.7589
|
25
|
59
|
AUD/USD Daily
Chart – Created Using Trading View
AUD/USD may make a more meaningful attempt to break out of the range-bound price action from earlier this week as Australia’s Consumer Price Index (CPI) is expected to uptick to an annualized 1.1% from 1.0% in the second-quarter, while the core rate of inflation is projected to hold steady at an annualized 1.7%; sticky price growth may boost the appeal of the Australian dollar, with ah break of 0.7650 (50% expansion) raising the risk for a move back towards 0.7730 (61.8% retracement) to 0.7740 (78.6% expansion).
Sticky price growth may encourage the Reserve Bank of Australia (RBA) to preserve the current policy at the November 1 interest-rate decision, but signs of easing price pressures may prompt GovernorPhilip Lowe to further insulate the region especially as the global economy grows ‘at a lower than average pace’.
Will keep a close eye on the topside targets for AUD/USD as largely preserves the ascending triangle formation from earlier this year, with a break/close above the Fibonacci overlap around 0.7730 (61.8% retracement) to 0.7770 (61.8% expansion) opening up the 2016-high (0.7835) along with the next topside region of interest around 0.7860 (61.8% expansion).
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Currency
|
Last
|
High
|
Low
|
Daily Change (pip)
|
Daily Range (pip)
|
|
GBP/USD
|
1.2139
|
1.2244
|
1.2083
|
99
|
161
|
GBP/USD Daily
Chart – Created Using Trading View
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