Aussie at Support ahead of FOMC

11 thg 6

Aussie is testing confluent support here at the 38.2% retracement near 6580. Looking for a reaction heading into US CPI / FOMC.

Ultimately, losses would need to be limited to 6538 IF price is still heading higher with a breach above 6690 needed to mark uptrend resumption.

Bottom line- threat for an exhaustion low over the next few days- Watch the weekly close here.

Michael Boutros, Sr Technical Strategist
MBForex

12 thg 6

Ghi chú

That was quick - AUD/USD back at major resistance here on the back of softer-than-expected inflation data today. .

Looking for a possible pivot into 6676/90 - this level remains key into the FOMC later today. . Watch today's close.

A topside breach exposes the 2024 high-day close (HDC) at 6761 and the 2023/2024 yearly opens near ~6810.

Support steady at 6580

Michael Boutros, Sr Technical Strategist
MBForex