There is arguably just one to take note of on the day, as highlighted in bold below.
That being for AUD/USD at the 0.6700 level (yes, 6-7~~~ ¯\_(ツ)_/¯). The pair has been flirting with a firmer break above the figure level since the end of December trading. And today, it looks like buyers might be getting that added impetus to push for a breakthrough. That will see the pair rise up to the highest since October 2024, with little standing in the way of a potential retest of the 2024 highs just above 0.6900.
A softer dollar and more positive risk appetite continues to reinforce the momentum, so the expiries could act as a floor in case we do see some light selling in the session ahead. The key hourly moving averages around 0.6691-94 currently will also add another layer near the expiries to provide some support for price action.
Otherwise, the pair should stay underpinned on the day with little else to really distract from things before the Australia monthly CPI data tomorrow and the slow drip of US labour market data before the non-farm payrolls on Friday.
For more information on how to use this data, you may refer to this post here.
Head on over to investingLive (formerly ForexLive) to get in on the know!
