AUD strengthened in the lead up to the release of the CPI figure however it could not break through the 26 year high of 0.9499. CPI is expected to come in at 1.1% q/q for Q1 and 4.0% y/y. This is a slight increase from 0.9% q/q and 3.0% y/y for Q4. Look for movements in the Aussie dollar if CPI data comes in better or worse than expected.
TECHNICAL FOR THE DAY.
AUD chart pattern indicates the currency to be on bull note for the day. the currency has its support at 0.9410 levels and holds resistance at 0.9540 levels. the trading range is expected between 0.9415-0.9530 levels. Momentum supports the currency to be upper side and stochastic also indicates the bull run to continue for the day.
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