AUDUSD runs higher and toward May 2024 high and the 50% of the range since the 2023 high

June 12, 2024 at 05:02PM
The AUDUSD has moved sharply higher after the better-than-expected US CPI data. The move to the upside has taken the price to the 0.67000 level. Just above that level is the May 2024 high at the same level. The dual level increases the levels importance going forward (and through the FOMC rate decision).

Going forward it would take a move above that level and staying above to increase bullish bias. Conversely, if buyers want to take profit, this level is a key target that gives traders an option.

This article was written by Greg Michalowski at www.forexlive.com.

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Payment services for HUBFX are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199) and The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorized in 39 states to transmit money (MSB Registration Number: 31000160311064). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011 and CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 – 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of a electronic-money institution (Relation Number: R142701)

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