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The Aussie jumped to a new high versus the US dollar during the session after the Australian CPI came in at 3.5%, down from 3.8%. However, this was worse than expected, as expectations were at 3.4%. This discrepancy caused a spike to the upside in the Aussie, but it’s important to note that inflation is […]

The post Elliott Wave Analysis: Aussie Testing Resistance After AUD CPI Data appeared first on Action Forex.

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07/02/2024

Australian Dollar Yawns as RBA Stands Pat

The Australian dollar is showing limited movement on Tuesday, after the Reserve Bank of Australia held interest rates. In the European session, AUD/USD is trading at 0.6493, up 0.61%. RBA maintains rates The RBA left interest rates unchanged at 4.35% at its first meeting of 2024. The central bank raised rates by a quarter-point in […]
02/08/2024

Sunset Market Commentary

Markets Markets are trembling. US payrolls missed expectations by a significant margin as employment only grew by 114k (175k consensus). Last month’s reading was revised down by about 30k. The unemployment rate unexpectedly rose to 4.3%, the highest since Oct 2021, and hourly earnings only rose by 0.2% m/m (3.6% y/y). It’s a big disappointment […]
13/03/2024

AUD/USD: Starts to Regain Traction After Shallow Pullback

AUDUSD is holding within a narrow range around 0.6600 handle on Wednesday, after the pullback in past three days started to run out of steam. Tuesday’s long-legged Doji signaled indecision and hinting that corrective phase might be close to the end, as picture on daily chart remains bullish (strong positive momentum / MA’s in bullish […]