AUD/USD crashes all patterns

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Thursday, at 13:30 GMT, the monthly US Consumer Price Index data was published. The data caused an immediate drop of the USD, which was followed by a sharp recovery. After the recovery, a decline started. Namely, the volatility increased, as the markets took in the news and the chart adjusted to the new fundamentals.

During the volatility, the AUD/USD pair broke all pattern and ignored all technical levels, which is normal for high impact events during important periods. This time, the CPI release was important as it is a signal to what would the US Federal Reserve do with its monetary policy.

On Friday morning, the rate had reached below the 0.7120 level. If the decline continues, the currency pair might aim at the 0.7100 mark. A move below the 0.7100 mark might aim at the weekly simple pivot point at 0.7079.

Meanwhile, a potential surge could aim at the combined resistance of the weekly R1 simple pivot point and the 50-hour simple moving average at 0.7170. Higher above, note the 0.7200 mark and the weekly R2 simple pivot point at 0.7260.
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Fri, 11 Feb 2022 09:47:21 GMT

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