Analysis of FPG's australian dollar trend on 9.26

AUDUSD H4

Yesterday, the CPI data for August in Australia was released, recording 2.7%, meeting market expectations. CPI, as the most watched indicator by the Reserve Bank of Australia, decreased from 3.5% in the previous month to 2.7%. Looking into the details of CPI, the main reason for this decrease is in the energy sector, with a significant drop in electricity prices by 17.9% and a 7.6% decrease in oil prices compared to the same period last year. The monthly CPI did reach the RBA's rate cut target range of 2%-3%, but the more important data will be the CPI data for the third quarter to be released on October 30th at the end of next month. If this data continues to stay within the RBA's target range, there may be expectations of a rate cut before the end of the year.

Technically, yesterday's early trading of the australian dollar saw a short-term decline alongside the U.S. dollar, hitting a high of 0.690 since February last year, then falling all the way down. The intraday decline almost wiped out the previous day's gains, dropping to the low of the previous trading day, also the support platform near 0.682 mentioned earlier. Pay close attention to the support role at this level, if broken, the australian dollar may begin a deeper pullback.

Upper first resistance line at 0.684, second resistance line at 0.687, third resistance line at 0.689.

Support at first line 0.682, support at second line 0.680, support at third line 2625.

#This advice is general in nature and does not take into account your specific financial situation and needs. Investment involves risks, so please assess cautiously.#