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Thomson Reuters
Jan 30 - 08:36 AM
AUD/USD - COMMENT-AUD/USD Bets On A 2019 High Depend On Cloud Break
First appeared on eFXplus on Jan 30 - 05:40 AM

The AUD could be set for new 2019 highs as technical momentum grows and pressure is brought to bear on the 0.7207 daily cloud top.
Today's push was underpinned by stronger-than-expected Aussie inflation data.
The headline fourth-quarter number at 1.8 percent just exceeded the Reuters poll consensus forecast of 1.7 percent; CPI index rose to 114.1 from 113.5.
RBA expectations seem to be in a state of flux, possibly moving from dovish to hawkish.
AUD progress might slow up ahead of today's Federal Reserve decision, but breach of the cloud top could open up a near-term push above the 0.7235 year-to-date high.
Worth noting, however, that the cloud did reject the AUD's advance on Monday, and the subsequent pullback recorded a bear close.
Bull bets will probably betaken off if AUD/USD drops below Tuesday's 0.7138 low.

AUD/USD daily Ichimoku Chart: Click here

Source:
Thomson Reuters IFR Markets

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