AUD/USD chart - Trading View
AUD/USD was trading rangebound at 0.7744 at around 06:00 GMT, with session high at 0.7763 and low at 0.7729.
The major was largely unimpressed despite better-than-expected Q4 inflation data. Caution prevails ahead of FOMC interest rate decision.
December quarter CPI printed at 0.9% y/y, greater than market median forecast and prior quarter reading of 0.7%.
The core measures were inline with expectations, with the trimmed mean lifting 0.4% while the weighted median gained 0.5%.
Major trend is bullish as evidenced by the GMMA indicator. The pair holds support at 21-EMA and weakness only on break below.
Resumption of upside will see test of 88.6% Fib at 0.7836 ahead of 200 month MA at 0.8250.
Focus on US Durable Goods Orders, and the Federal Reserve monetary policy announcement for direction.
