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28 Jan 2015
AUD/USD back below 0.8000
FXStreet (Mumbai) - The Aussie stormed its way through the crucial 0.80 psychological level in the Asian morning, reaching a three-day high at 0.8010 as traders digested slightly upbeat Australian inflation figures.
Currently, the AUD/USD remains at higher levels at 0.7995, recording a 0.74% gain on the day. The Aussie jumped after Australia's consumer price inflation surprised the markets with the headline CPI figure came in slightly below market forecast - rising 0.2% in the December quarter compared with 0.3% expected. However, the trimmed mean CPI (excludes the most volatile price movements) measure beat market expectations, rising 0.7% compared with the forecast 0.5% rise.
A better than forecast price pressure print may defer the Reserve Bank of Australia’s (RBA) plans for easing this year in order to support price growth.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8010 levels, above which gains could be extended to 0.8053 levels. On the flip side, support is seen at 0.7906 from here it to 0.7872 levels
Currently, the AUD/USD remains at higher levels at 0.7995, recording a 0.74% gain on the day. The Aussie jumped after Australia's consumer price inflation surprised the markets with the headline CPI figure came in slightly below market forecast - rising 0.2% in the December quarter compared with 0.3% expected. However, the trimmed mean CPI (excludes the most volatile price movements) measure beat market expectations, rising 0.7% compared with the forecast 0.5% rise.
A better than forecast price pressure print may defer the Reserve Bank of Australia’s (RBA) plans for easing this year in order to support price growth.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8010 levels, above which gains could be extended to 0.8053 levels. On the flip side, support is seen at 0.7906 from here it to 0.7872 levels