fundamental News - AUD/USD

The AUS/USD is trading higher against the U.S. Dollar late in the session on Thursday as a drop in U.S. Treasury yields made the greenback a less-attractive investment. Although U.S. consumer prices jumped more than expected in May, the surge in inflation looks to be temporary and should not push the Federal Reserve to tighten policy for now.


On Thursday, the U.S. government reported the consumer price index rose 5% in May on a year-over-year basis, the highest since the summer of 2008, when oil prices were skyrocketing. Excluding food and energy, core CPI rose 3.8% year over year, the highest pace since 1992.

Technical Analysis
A trade through 0.77740 will change the main trend to up. A move through 0.76460 will signal a resumption of the downtrend.

Both areas have been holding the AUD/USD in a range for nearly two months.

The direction of the AUD/USD into the close on Thursday is likely to be determined by trader reaction to the main 50% level at 0.77700.

A sustained move over 0.77700 will indicate the presence of buyers. Taking out the main top at 0.77740 will change the main trend to up and could drive the market into the next main top at 0.77960. Taking out this level will reaffirm the uptrend with 0.78140 the next target.


A sustained move under 0.77690 will signal the presence of sellers. If this move creates enough upside momentum then look for the selling pressure to possibly extend into the short-term retracement zone at 0.77110 to 0.77690.

expectation today; neutral


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