AUD/USD: Analyzing Risk Appetite and Fed Inflation's Impact on Currency Trends
Wednesday, 11 September 2024, 01:55
AUD/USD's Current Standing
The AUD/USD pair successfully defends the 100-day Simple Moving Average (SMA) support, attracting buyers near the 0.6645 region on Wednesday. Spot prices maintain a bid tone, reflecting a cautious optimism among investors.
Influence of Risk Appetite
As global risk appetite fluctuates, traders are keenly aware of how Fed inflation concerns shape the market landscape.
Impending US CPI Data
- Market participants are vigilant for a shift in dynamics from upcoming US CPI reports.
- Price action could be influenced significantly by inflation data.
- The 0.6680 level is seen as a critical resistance point for AUD/USD.
Currencies to Watch
- Focus on currencies that react sharply to inflationary pressures.
- Consider the interplay between AUD/USD and other major currency pairs.
- Analyze the potential for long and short positions based on data releases.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.