What are AUD crosses printing after CPI weakness?

AUD was forex driver this morning

AUD was the biggest mover/loser this morning. Headline from Investing.com reports that this was due to miss in consumer price index.

Investing.com – The Aussie fell sharply on Wednesday after a slower pace of consumer prices than expected ahead of the latest Federal Reserve views on interest rates.

A quick look at 1-day performance chart from Finviz says that the best forex trade was to short AUD against every other major. Short AUDJPY is biggest winner while short AUDNZD delivered the weakest performance.

Forex 1 day relative performance

Forex 1 day relative performance | Source: Finviz.com

 

What AUDJPY, AUDUSD and GBPAUD printing right now

A look at selected AUD pairs.

 

AUDJPY

AUDJPY daily chart

AUDJPY daily chart

  1. Month-month downtrend.
  2. Price now below both 2-year (2014) and 3-year lows (2013).
  3. Early October rally was obviously test, failed break of September and late-August high.

 

AUDUSD

AUDUSD daily chart

AUDUSD daily chart

  1. Month-month downtrend.
  2. Mid-October rally was test, failed break of September high and formerly July low.
  3. Channel to provide indication whether this pair will reverse/rally or resume previous month-month trend.

 

GBPAUD

GBPAUD daily chart

GBPAUD daily chart

  1. Previous month -month trend up but that big bearish expansion this month terminates uptrend.
  2. Unlike other pairs’ test and false break, September support clearly is a resistance.
  3. This pair has highly likely reversed; traders will be watching what price does at green zone now.
  4. Some see a head and shoulder formation where the neckline is doing what it clearly should be doing so far.
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Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.   Soh's Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX.   Disclaimer notice: "I do not have a financial advisor's license. I am not qualified by any regulator to give financial advice. I do not know you the reader. Your investment means and motive may be different from me. My posts here are based on observations and meant for education. I am not responsible for for any consequence from your actions."
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