Morning Insights 14th September

Simon Alagbe


Instrument: AUDUSD

The pair closed bullish yesterday despite a late rally of the Greenback against the Aussie on a day with limited economic data releases. The Greenback is pressured this morning as traders await the release of the latest inflation numbers from the United States for guidance on the start of the withdrawal of the stimulus package from the Federal Reserve. Officials of the US apex bank have consistently described inflation in the U.S as transitory despite the figures rising consecutively. I advise traders to pay close attention to the data set to be released later today. 


The pair is approaching a verified support on the hourly timeframe (around 0.73296) where I expect a rejection to the upside  with a target at 0.73655 and stop-loss at 0.73170. 


Flash CPI m/m (USD)  1:30 PM

Flash Core CPI m/m (USD)  1:30 PM

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