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Daily Market Analysis 12.04.2022: AUDUSD

Instrument: AUDUSD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 0.74451 with take profit at 0.74562
Bearish Preference: 
Sell position is envisaged if price trades below 0.74192 with take profit at 0.74056
Fundamentals:
USD  1:30PM    CPI m/m
USD  1:30PM    Core CPI m/m

Comment: 
The AUD/USD pair has attracted some bids around 0.7400 after displaying a steep fall from the last week’s high at 0.7662. The pair has remained vulnerable from the previous week after the Reserve Bank of Australia (RBA) announced its monetary policy.

Analysis: SCRUM Team

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