16 Jan 2015
AUD/USD erases gains, steadies ahead of US CPI
FXStreet (Mumbai) The Aussie shaved off previous gains versus the US counterpart, and trades unchanged as markets now turn their focus US inflation data lined up for release later in the US session.
Currently, the AUD/USD traded flat at 0.8218 levels, having clocked day’s high at 0.8256 levels in the Asian session. The AUD/USD pair treads waters before US CPI print which is expected to show annual price pressures easing to 0.7% in December from 1.3% recorded in November. While core inflation is predicted to stay at 1.7%, confirming that the decline in prices is driven mainly by plummeting oil and food prices.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8255 (Jan 12 High) levels, above which gains could be extended to 0.8275 (Dec 16 High) levels. On the flip side, support is seen at 0.82, from here it to 0.8180 levels.
Currently, the AUD/USD traded flat at 0.8218 levels, having clocked day’s high at 0.8256 levels in the Asian session. The AUD/USD pair treads waters before US CPI print which is expected to show annual price pressures easing to 0.7% in December from 1.3% recorded in November. While core inflation is predicted to stay at 1.7%, confirming that the decline in prices is driven mainly by plummeting oil and food prices.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.8255 (Jan 12 High) levels, above which gains could be extended to 0.8275 (Dec 16 High) levels. On the flip side, support is seen at 0.82, from here it to 0.8180 levels.