Here’s How to Trade the AUD Ahead of CPI - Forex News by FX Leaders

Here’s How to Trade the AUD Ahead of CPI

Posted Tuesday, October 24, 2017 by
Rowan Crosby • 1 min read

The Aussie is getting an absolute hammering lately as the USD strength has really put it to the sword. Overnight we saw further declines in the AUD/USD as we broke down through the 0.7800 level which had been holding up in the short-term.

Long-term the only way for the Aussie is down I suspect, but as we’ve seen before even when it appears a certainty we can get a spike higher. The CPI figure today is predicted to be a little better than previously and a strong number may pave the way for interest rate rises.

For me, though I would like to see a poor figure. That would really send the AUD tanking and the momentum would make for a great trade, given how weak we have already been.

0.7750 is the key support level. If we get a weak number, I’ll be looking to sell for a longer-term move, assuming we can hold below that level.

 

AUD

AUD/USD -240 min Chart.
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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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