AUD/USD traders get set for CPI's - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted the trading conditions surrounding the Aussie overnight as we set up for the CPI's that are coming up within the next hour.

Key Quotes:

"The Australian dollar maintains a heavy tone against most rivals, weighed by RBA's Governor Glenn Stevens latest words, as he said that Australia's central bank is willing to cut interest rates again if needed, but is cautious about the likely impact on house prices and debt levels."

"The country will release its inflation figures for the Q1, expected at 1.3% yearly basis, against a previous reading of 1.7%."

"Weaker-than-expected CPI figures should pressure even further the Aussie that currently struggles around the 0.7700 level against the greenback. Technically, the short term picture for the AUD/USD pair favors the downside, as the price stands below its 20 SMA while the technical indicators head lower around their mid-lines."

"In the 4 hours chart, the 20 SMA presents a strong bearish slope in the 0.7750 region, whilst the technical indicators head lower in negative territory, supporting additional declines on a break below 0.685, the immediate support."

"Support levels: 0.7685 0.7640 0.7600. Resistance levels: 0.7740 0.7775 0.7810."