- AUD/USD Price Analysis: Bulls emerge again following high volatility event
Market news
25 January 2023
AUD/USD Price Analysis: Bulls emerge again following high volatility event
- AUD/USD bulls eye the 0.7100s on the CPI beat.
- Bulls move back in following worthy correction.
AUD/USD bulls have moved in at a 61.8% Fibonacci retracement level following the correction of the high-impact data event in today's Tokyo session as the following illustrates.
The Aussie Consumer Price Index beat expectations and sent AUD/USD from a low of 0.7038 to a fresh bull cycle high of 0.7084 on the knee-jerk. However, the pair sank back into the spike but has since started to recover and is targeting a break of the session highs at the time of writing.
AUD/USD 1-min chart
The price could rally into the 0.7100/20 area as per the daily chart:
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page