Chart - Courtesy Trading View
AUD/USD was trading 0.07% lower on the day at 0.6900 at around 11:50 GMT.
The major is extending sideways grind above 200-DMA support, outlook remains bullish.
Focus now is on the key US Consumer Price Index (CPI) data, due later on Thursday at 13:30 GMT.
Traders reluctant to place any aggressive bets ahead of US CPI report. Rising expectations for smaller Fed rate hikes act as a headwind for the USD .
A slowdown in the US wage growth pointed to easing inflationary pressure. Today's release of the US CPI report will influence the Fed's rate hike path.
According to CME Group’s FedWatch Tool, a 25 bps rate hike at the Fed’s next event on February 1 looks the most likely scenario.
Technical indicators for the pair point to further upside. Momentum bullish, volatility is high, GMMA indicator shows major and minor trend are bullish.
Support levels - 0.6895 (5-DMA), 0.6831 (200-DMA)
Resistance levels - 0.6938 (Upper BB), 0.7034 (110-week EMA)
Summary: AUD/USD trades with a bullish technical bias. US CPI data is the main catalyst that will drive further price action. Scope for test of fresh multi-month highs above 0.70.


Yen Power Play: AUDJPY Crumbles Below 103.70 Resistance
ETH/USD Clings Below $3000 in BTC's Shadow: Buy Deep Dips at $2700 Targeting $4000 Breakout
FxWirePro: USD/CAD slides as U.S. dollar weakens after jobs data
UK Economy Accelerates, But GBP/JPY Stays Capped – Sell Toward 206
FxWirePro: USD/ZAR bears maintain upper hand
FxWirePro: EUR/NZD edges lower but bullish outlook persists
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Woodies Pivot(Major)
FxWirePro- Major European Indices
FxWirePro: GBP/AUD maintains bullish bias with focus on 2.0300 level
BTC/USD Coils Ahead of CPI & BOJ: Buy Dips at $85K Targeting $100K Breakout
FxWirePro: USD/ZAR extends losses as dollar drops after delayed U.S. data
EUR/USD Surges Past 1.1765 on Dismal US Jobs Data: Bullish Momentum Builds with Eyes on 1.1900
FxWirePro- Woodies Pivot(Major)
FxWirePro: NZD/USD sidelined ahead Of key New Zealand GDP and US inflation update
FxWirePro: AUD/USD runs out of steam but maintains bullish outlook 



