The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
Last read was 0.2% , analysts expectation are 0.2% .It will be published after midnight at 01:30 GMT…
anyway , let’s take a look at the chart of Australian consumer price index below:
As you see from the chart posted above , the indicator is supported well around 0.2% , whatever according to the chart posted above we have 6 scenarios for AUDUSD , but let’s highlight support and resistance levels before we continue :
Support and resistance levels : 0.7400 , 0.7530 , 0.7672 , 0.7758 , 7840 , 0.7940, 0.7995 , 0.8135
We have 6 scenarios :
1: A reading within 0.2% : 0.5% range will bring sideways move within support and resistance range with possible to break higher , one resistance level could be broken !!!
2: A reading within 0.5%:1.2% range (unexpected) will bring strong bullish move , 2 resistance levels could be tested (broken).
3: A reading above 1.2% (extremely unexpected) , will have large bullish implication , 3 resistance levels could be tested or broken ..
4: A reading within 0.2%: 0.0% range should be taken as an opportunity to buy the pair on dips , the pair may fluctuate around main support 0.7672 , but this level is likely to hold …..
5: A reading within 0.0% : -0.3% range , 1 support level could be broken …
6: A reading below – 0.3% , will put the pair under heavy pressure , 2 support levels could be broken ……..
I’m gonna update forecast after the news is released !!!!
Australian Consumer Price Index (CPI) (QoQ) (Q1) , will be published on Wednesday at 01:30 GMT …
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