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AUD/USD Signal - USD Consumer Price Index - 14 Jul 2020

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Average: 5 (1 vote)

AUD/USD is trading around 0.693 today prior to the USD CPI data. The consumer price index is a measure of price differences in a representative shopping basket of goods and services, and is typically a medium impact economic event, with a higher reading typically being bullish for the USD and a lower reading being bearish. We anticipate further AUD downside against the greenback prior to the data release. Technically, price is trading below the 1hr 50ema.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.