The AUDUSD is poised and ready for Chinas data release

Currency Analysis AUDUSD

Time Frame : 1 Hour Chart

AUDUSD

The AUDUSD played out nicely from the previous alert with a push down to support where the bulls reacted with a strong move up. The target looks to have been 0.7200 which price action fell just short of hitting 0.7192. We see the RBA statement yesterday produced a sharp spike lower to 0.7140 zone which was absorbed by the buyers and then price rallied over night to 0.7178 where sellers came back in. We feel that the Aussie is torn between lower rates and a potential interest rate differential play with the USD. Traders are now focused on China data due out today around midday so we expect to see price range bound until then after the washout to 0.7153 earlier this morning. If Chinas data comes out better than expected, the AUDUSD should push through 0.7178 easily but if numbers come out in line (which is probable), expecting buyers to support around 0.7150…we will see what plays out.

FX Pair : AUDUSD

Current Price : 0.7163

Status : On watch for a spike in volatility after China Data

Previous Alert 2/04/19

Currency Analysis AUDUSD

Time Frame : 1 Hour Chart

AUDUSD

The AUDUSD played out nicely

FX Pair : AUDUSD

Current Price : 0.7103

Status : On watch for a spike in volatility