Higher lows since Monday's week low; range top 0.7040 broken on Fed.
Monday's NY-session drop to the 0.7009 week low set the base, and a higher-low line has held since. The 0.7040 range top capped Tuesday, and Wednesday's hot AUD CPI spike to the 0.7054 cpi high faded back to the 0.7023 double low by London. The Fed hold then sparked a USD sell-the-fact during late NY hours, a breakout off the 0.7029 fed bar low that ran to the 0.7064 week high; price now sits at 0.7047, above EMA(20) near 0.7041 and around the 38.2% of the post-Fed leg, with RSI(14) easing to about 61.
Support: 0.7040, 0.7029, 0.7023
Resistance: 0.7054, 0.7064
What it said to watch
H1 close back below the 0.7040 range top and EMA(20) returns price to the Monday–Wednesday range
Loss of the 0.7023 double low breaks the higher-low line and the sequence of higher lows
H1 close above the 0.7064 week high extends the breakout beyond the cpi high cluster
US core PCE and Q3 GDP Thu 12:30 UTC (~13h) could materially shift this read
After a gap-down weekly open near 0.7027, AUDUSD spent Monday and Tuesday in a 0.7009–0.7040 range, putting in higher lows from Tuesday's Asian low. Wednesday's hot AU CPI wicked to the 0.7054 cpi high in the Asia session before fading to the 0.7023 wed low. During NY hours the Fed hold and Warsh's 'tightening is working' line softened the USD and carried the week's rally through the range top to a 0.7064 week high. Price is now holding above the cpi high, with RSI(14) near 66 and well clear of EMA(20).
Support: 0.7054, 0.7040, 0.7023
Resistance: 0.70643, 0.7070
What it said to watch
H1 closes back below the 0.7054 cpi high would mark the post-Fed break as stalling under the 0.7064 week high
Return inside the 0.7040 range top, near the 50% retrace of the week's rally, would negate the breakout read
Loss of the 0.7023 wed low breaks the higher lows sequence
Clearance of the 0.7064 week high exposes the 0.7070 round number
AU PPI Thu 00:30 UTC, then US core PCE/GDP Thu 12:30 UTC, could materially shift this read
21:05 UTC
Uptrend, post-Fed extension to week high · RSI 66 · price 0.70532
Higher lows from 0.7009, breakout above 0.7054 cpi high.
AUD/USD has printed higher lows since Tuesday's Asian-session low at 0.7009, through Wednesday's 0.7023 higher low and the 0.7029 post-Fed dip. The hot AU CPI pushed price to a 0.7054 cpi high in Asia before it faded. The Fed hold and Warsh's 'tightening is working' line then softened the USD in NY hours, lifting the pair through Tuesday's 0.7040 prior high, which now sits with EMA(20), to a 0.7064 week high. The last bar closed back near the cpi high at 0.7053. RSI(14) at 66 is elevated but short of overbought, and price is extending above the week rally fib rather than retracing it.
Support: 0.70539, 0.7040, 0.7023
Resistance: 0.70643, 0.7070
What it said to watch
H1 close back below the 0.7054 cpi high would leave the post-Fed move as a false break
Failure to hold the 0.7040 prior high / EMA(20) confluence exposes the 0.7023 higher low and the higher-lows trendline
A break below the 0.7023 higher low ends the sequence of higher lows that began Tuesday
Close above the 0.7064 week high opens the 0.7070 res zone
US core PCE and Q3 GDP Thu 12:30 UTC could materially shift this read
AU PPI 30 Oct 00:30 UTC is a secondary risk during the Asia session
Break above Mon–Tue range and CPI high, higher lows since Tuesday.
After a gap-down weekly open near 0.7027, AUD/USD held a 0.7009–0.7040 range through Monday and Tuesday. The hot Australian CPI spiked price to a 0.7054 cpi high in Wednesday's Asian session, but it faded back below the range top into London. The Fed hold with two hawkish dissents then drove a range break during NY hours rather than a reversal. Price is pressing a fresh 0.7062 week high with RSI(14) near 72, and the move has retraced little of the late-session leg.
Support: 0.70539, 0.7040, 0.70231
Resistance: 0.70624, 0.7070
What it said to watch
Hourly close back below the 0.7054 cpi high would mark the CPI-high breakout as a false break and return focus to the 0.7040 range top
Rejection or break at 0.7070 major res, the next cap above the 0.7062 week high
Loss of the higher-lows line toward the 0.7023 wed low would undo the breakout structure
Australia PPI (Thu 00:30 UTC), then US GDP and core PCE (Thu 12:30 UTC), could materially shift this read
Since Tuesday's Asian low at 0.7009 the pair has built higher lows, the latest a swing low at 0.7023 on Wednesday. The hot Australian CPI spiked it to the 0.7054 cpi high in the Asia session before London faded it back toward 0.7027. The Fed hold then drove an 18:00 UTC NY bar to the 0.7058 fomc high and a close back above the 0.7040 tue high, with price holding over the ema20 near 0.7036 and RSI(14) in the mid-60s.
Support: 0.7040, 0.7036, 0.70231
Resistance: 0.70539, 0.70582
What it said to watch
Hourly close back below the 0.7040 tue high would mark the FOMC push as a false break
Repeat failure at the 0.7054 cpi high and the 0.7058 fomc high would leave a double rejection at the week high
Loss of the 0.7023 swing low breaks the higher-low trendline sequence; the ema20 near 0.7036 is the first test
Warsh press conference in progress, then US Q3 GDP and core PCE Thu 12:30 UTC, could materially shift this read
Australia PPI Thu 00:30 UTC in the Asia session
18:04 UTC
Range with rising lows, momentum neutral · RSI 54 · price 0.70366
0.7009–0.7054 weekly range; higher lows since Tuesday, lower high under CPI spike.
AUD/USD has held a 0.7009–0.7054 range this week, printing rising lows since Tuesday's Asia-session week low at 0.7009, with pullbacks finding the EMA(20). The hot Australian CPI beat spiked price to the 0.7054 week high in Asia, but a firmer USD into FOMC drove a rejection back to the 0.7023 swing low in London. NY hours recovered only to a lower high at the 0.7045 NY high, leaving price near the 38.2% of the CPI leg with RSI(14) neutral at 54.
Support: 0.70336, 0.70231, 0.7009
Resistance: 0.70453, 0.70539
What it said to watch
H1 close above the 0.7054 week high breaks the lower-highs sequence and the range top
Loss of the 0.7023 swing low breaks the rising lows line and exposes the 0.7009 week low
Sustained trade below the ema20 near 0.7034 shifts the pullback read to a deeper retracement of the CPI leg
FOMC decision and Warsh presser at 18:30 UTC could materially shift this read; US core PCE Thu 12:30 UTC follows
17:05 UTC
Range-bound, higher lows building · RSI 61 · price 0.70418
Higher lows inside 0.7009–0.7054 week range.
AUDUSD has built higher lows since Tuesday's Asia-session week low at 0.7009, holding 0.7012 and then 0.7023 twice, inside a 0.7009–0.7054 week range. The hot Australian CPI print spiked price to the 0.7054 week high in Wednesday's Asia session. That move met rejection and retraced roughly two-thirds of the week impulse into London, before NY demand lifted price to a 0.7045 session high. Price now sits above EMA(20) near 0.7034 and EMA(50) near 0.7030 with RSI(14) around 61, as a firm USD holds the pair under the week high ahead of the FOMC decision within the hour.
Support: 0.70339, 0.70231, 0.7009
Resistance: 0.70453, 0.70539
What it said to watch
FOMC decision at 18:00 UTC and Warsh presser at 18:30 UTC fall on the next bars and could materially shift this read
H1 close above the 0.7054 week high breaks the range top set on the CPI spike
H1 close back below EMA(20) near 0.7034 returns price to the middle of the week range
Failure to hold the 0.7023 higher low breaks the higher-lows sequence and exposes the 0.7009 week low
Thursday's US core PCE at 12:30 UTC is the next scheduled risk to the range
0.7009–0.7040 range, CPI spike above it faded back inside.
AUDUSD has held a 0.7009–0.7040 range since Monday's 0.7027 open. Demand stepped in near the 0.7009 week low on Monday's NY session and again in Tuesday's Asian session, and the 0.7040 range top has capped Monday, Tuesday and today's NY session. Today's hot Q3 trimmed-mean CPI lifted price to the 0.7054 cpi high in Asia, but the move faded back inside the range as the USD firmed into FOMC, a false break. The pullback held at the 0.7023 cpi fade low, just past the 61.8% of the cpi leg, keeping the higher lows trendline intact. Price now sits marginally above EMA(20) near 0.7033 with RSI(14) flat around 53.
Support: 0.7033, 0.7023, 0.7009
Resistance: 0.7041, 0.7054
What it said to watch
FOMC decision at 18:00 UTC and Warsh press conference at 18:30 UTC, about 2h out, could materially shift this read
H1 close above the 0.7041 range top reopens the 0.7054 cpi high
Loss of the 0.7023 cpi fade low breaks the higher lows trendline and exposes the 0.7009 week low
Hourly closes back below ema20 at 0.7033 return price to mid-range
15:04 UTC
Range-bound, rising lows · RSI 52 · price 0.70332
0.7009–0.7040 range with higher lows; CPI spike was a false break above the range top.
AUD/USD has rotated in a 0.7009–0.7040 range since Sunday's 0.7027 weekly open. Higher lows at 0.7012 and the 0.7023 swing low are compressing price toward the range top, which capped Monday, Tuesday and today. The hot Australian CPI print drove a spike to the 0.7054 CPI high in the Asia session, but it was faded by London as the USD firmed into FOMC, leaving a false break and rejection above 0.7040. Price now sits on EMA(20) near 0.7032 with RSI(14) neutral around 52.
Support: 0.7027, 0.70231, 0.7009
Resistance: 0.7040, 0.70539
What it said to watch
FOMC decision at 18:00 UTC and Warsh's press conference at 18:30 UTC could materially shift this read.
An H1 close above the 0.7040 range top, then the 0.7054 CPI high, would invalidate the false break read.
Losing the 0.7023 swing low and the rising lows trendline would put the 0.7009 week low back in focus. The 61.8% retrace of the rally from the week low to the CPI high sits near 0.7026.
Thursday's US core PCE at 12:30 UTC is a second USD risk inside the next day.
14:03 UTC
Sideways, higher lows building under range top · RSI 54 · price 0.70344
0.7009–0.7040 range with CPI spike rejected above; lows stepping higher since Monday.
AUD/USD has held a 0.7009–0.7040 range since the weekly open near 0.7027. The hot Australian CPI print during today's Asia session lifted the pair to a 0.7054 CPI high, but the push was rejected and price was back inside the range by London open, a false break of the range top. Lows have stepped higher from Monday's 0.7009 week low to today's 0.7023 Wed low, and price sits just above EMA(20) near 0.7032 with RSI(14) holding in the mid-50s.
Support: 0.70231, 0.7009
Resistance: 0.7040, 0.70539
What it said to watch
FOMC decision at 18:00 UTC and Warsh presser at 18:30 UTC could materially shift this read
H1 close above the 0.7040 range top reopens the 0.7054 CPI high
Failure to hold the 0.7023 Wed low breaks the higher-low trendline and exposes the 0.7009 week low
Lower highs from the 0.7054 CPI high are compressing price into the trendline
13:05 UTC
Uptrend, momentum fading · RSI 56 · price 0.70331
Higher lows since Monday vs lower highs off the CPI spike, compressing.
AUD/USD has built higher lows since Monday's 0.7009 week low. The hot Q3 CPI beat lifted price to a 0.7054 cpi high in today's Asia session, but the move faded as the USD firmed into the FOMC, leaving lower highs at 0.7047, 0.7041 and 0.7038 beneath Tuesday's 0.7040 prior high. Price is pinned near EMA(20) around 0.7031 and the 50% retracement of the week advance, with the day low at 0.7023 holding just under the weekly open of 0.7027 and RSI(14) back to 56 from the spike.
Support: 0.7027, 0.70231, 0.7009
Resistance: 0.7040, 0.70539
What it said to watch
FOMC decision at 18:00 UTC and the Warsh press conference at 18:30 UTC could materially shift this read
H1 close above the 0.7040 prior high breaks the lower-highs sequence and puts the 0.7054 cpi high back in play
Failure to hold the 0.7023 day low and the higher-lows trendline exposes the weekly open, then the 0.7009 week low
Thursday's 12:30 UTC core PCE and jobless claims are the next scheduled risk to the range
12:03 UTC
Sideways, higher lows building · RSI 57 · price 0.70356
0.7009–0.7040 weekly range; CPI spike above range top rejected.
The hot Australian September CPI beat lifted AUD/USD to a 0.7054 cpi high in the Asia session. The pop faded back inside the Monday–Tuesday 0.7009–0.7040 range as the USD held two-week highs, leaving a false break of the range top. Since then, price has rotated between the 0.7023 london low and 0.7038. It now holds just above the ema20 near 0.7032 with RSI(14) around 57, and a higher-lows sequence from the 0.7009 week low is still intact.
Support: 0.7032, 0.70231, 0.7009
Resistance: 0.7040, 0.70539
What it said to watch
FOMC decision 18:00 UTC and Warsh presser 18:30 UTC could materially shift this read
H1 close above the 0.7040 range top reopens the 0.7054 cpi high
Hourly closes back below the ema20 near 0.7032 return price to the lower half of the range
A break of the 0.7023 london low and the higher lows trendline puts the 0.7009 week low back in play
The hot September CPI print lifted AUD/USD to a 0.7054 CPI high in the Asia session, clearing Tuesday's 0.7040 tue high, but the move faded through London as the USD held two-week highs. Price is back at the 0.7027 weekly open, just under EMA(20) near 0.7030 and flat against EMA(50), with RSI(14) back at 49. Post-CPI lower highs are now pressing on the 0.7023 higher low, and the higher-lows line from Tuesday's 0.7009 week low is being tested.
Support: 0.7023, 0.7009, 0.7000
Resistance: 0.7030, 0.7040, 0.7054
What it said to watch
H1 close below the 0.7023 higher low breaks the higher-lows sequence and exposes the 0.7009 week low
Loss of the 0.7009 week low puts the 0.7000 round number, Thursday's floor, back in play
Reclaiming ema20 and the post-CPI lower-highs line near 0.7032 reopens the 0.7040 tue high and the 0.7054 cpi high
FOMC decision at 18:00 UTC and Warsh presser at 18:30 UTC could materially shift this read; US PCE Thursday 12:30 UTC follows
Lower highs from 0.7054 inside the 0.7009–0.7054 weekly range.
The hot Australian CPI beat lifted AUD/USD through Tuesday's 0.7040 high to a 0.7054 CPI high in the Asia session. Supply capped the move, and it unwound through London as the USD held two-week highs into FOMC, returning price to the 61.8% retracement of the Monday-to-CPI advance at the 0.7027 week open. Lower highs since the spike have pushed price under EMA(20) at 0.7031 and onto EMA(50), with RSI(14) back near 51 and the rising-lows line from Monday's 0.7009 week low now being pressed.
Support: 0.7027, 0.7023, 0.7009
Resistance: 0.7031, 0.7040, 0.7054
What it said to watch
H1 close below the 0.7023 swing low breaks the rising-lows sequence and exposes the 0.7009 week low
Recovery above EMA(20) at 0.7031 and the lower-highs line reopens the 0.7040 Tuesday high
Close back above the 0.7054 CPI high would turn the spike from a false break into a range break
FOMC decision at 18:00 UTC and Warsh presser at 18:30 UTC could materially shift this read; Thu PCE follows
0.7009–0.7040 weekly range with higher lows; CPI spike above range top pared back.
AUD/USD has rotated inside 0.7009–0.7040 since Monday's open, with lows stepping higher from the 0.7009 week low printed early Tuesday. The hot September CPI beat drove an Asia-session spike to the 0.7054 CPI high, but the move was pared back below the 0.7040 Tuesday high as the USD firmed into FOMC. Price now sits on EMA(20) above the weekly open at 0.7027, which lines up with the 61.8% retracement of the CPI impulse, and RSI(14) is flat near 55.
Support: 0.7027, 0.7023, 0.7009
Resistance: 0.7040, 0.7054
What it said to watch
FOMC decision at 18:00 UTC and Warsh presser at 18:30 UTC could materially shift this read
H1 close back above the 0.7040 Tuesday high would reopen the 0.7054 CPI high and void the false-break read
Failure to hold the weekly open and the 0.7023 Asian low breaks the higher-lows trendline and exposes the 0.7009 week low
US Core PCE Thursday 12:30 UTC is the next USD-side risk to the range
08:03 UTC
Range with rising lows, post-CPI spike faded · RSI 55 · price 0.70337
0.7009–0.7040 weekly range; CPI false break above, retrace to 61.8%.
Since the 0.7027 weekly open, AUDUSD held a 0.7009–0.7040 range through Monday and Tuesday. London and NY sessions were capped at the 0.7039–0.7040 prior high while lows lifted from the 0.7009 week low along a rising line. The hot September CPI drove an Asia-session spike to a 0.7054 cpi high, but it faded as the USD held two-week highs into the FOMC, retracing to the fib 61.8 near 0.7028 before steadying just above EMA(20) around 0.7032 with RSI(14) back near 55.
Support: 0.7028, 0.7023, 0.7009
Resistance: 0.7040, 0.7054
What it said to watch
FOMC decision 18:00 UTC and press conference 18:30 UTC could materially shift this read
H1 close back above the 0.7040 prior high reopens the 0.7054 cpi high; a break there ends the range read
Failure to hold the fib 61.8 and the 0.7023 tuesday low breaks the rising line and exposes the 0.7009 week low
US core PCE Thu 12:30 UTC is the next scheduled USD risk
0.7009–0.7040 weekly range; CPI false break above the top.
AUDUSD gapped lower at the 0.7027 week open and has held a 0.7009–0.7040 range, with Tuesday's NY session lifting off the week low to retest the range top. The hot Sept CPI print drove a CPI spike to 0.7054 in the Asia session, but the break failed as the two-week-high USD into the FOMC pulled price back to the 50% retracement near 0.7031. Price is now pinned to EMA(20) with RSI(14) back near 54, while the week open and the rising trendline sit just below.
Support: 0.7027, 0.7023, 0.7009
Resistance: 0.7040, 0.7054
What it said to watch
H1 close back above the 0.7040 range top reopens a test of the 0.7054 CPI spike high
Failure to hold the 0.7027 week open and the rising trendline exposes the 0.7023 higher low, then the 0.7009 week low
FOMC decision 18:00 UTC and press conference 18:30 UTC could materially shift this read
Higher lows inside 0.7009–0.7040 range; false break above range top.
AUDUSD has rotated inside a 0.7009–0.7040 range since Monday's open. Monday's NY-session dip set the week low, and Tuesday's lows came in higher. The hot Sep CPI print drove an Asia-session spike to the 0.7054 cpi high, but price could not hold above the 0.7040 range top as the USD firmed into FOMC. It has since retraced to the 50% level of the week-low-to-CPI-high leg, sitting just above EMA(20) with RSI(14) back near 52.
Support: 0.70305, 0.70229, 0.7009
Resistance: 0.7040, 0.70539
What it said to watch
Hourly close back above the 0.7054 cpi high would invalidate the false-break read
Acceptance above the 0.7040 range top shifts structure from range to breakout
Loss of the 0.7023 day low breaks the higher-lows trendline and exposes the 0.7009 week low
FOMC decision 18:00 UTC and press conference 18:30 UTC could materially shift this read
05:04 UTC
Range with higher lows, CPI spike faded · RSI 50 · price 0.70318
0.7009-0.7040 weekly range; Asia CPI break above the range top reversed back inside.
Since Monday's open near the 0.7027 weekly open, price has held a 0.7009-0.7040 range, with higher lows building off Tuesday's Asia-session week low and the tue high at 0.7040 capping NY hours. The hot Sep CPI print lifted the pair to a 0.7054 cpi high in the Asia session, but a USD firming into FOMC pulled it back below the prior close at 0.7036. Price now sits at the 50% retracement of the Tuesday low to CPI high leg, pinned to the ema20 near 0.7031 with RSI(14) flat at 50.
Support: 0.7031, 0.7027, 0.7009
Resistance: 0.7036, 0.7040, 0.7054
What it said to watch
FOMC decision and Warsh press conference today (18:00/18:30 UTC) could materially shift this read
H1 close back above the 0.7054 cpi high would negate the false break and mark a range break
Failure to hold the rising lows and the 0.7027 weekly open would expose the 0.7009 week low
Holding below the prior close and the 0.7040 tue high keeps the CPI move read as a rejection
AU PPI (Oct 30, 00:30 UTC) is the next local risk to the range
0.7009–0.7040 weekly range with rising lows; CPI push above the range top rejected.
Since Monday's open AUDUSD has traded a 0.7009–0.7040 range. Lows have lifted from Tuesday's Asia week low, and Tuesday's NY-session high at the 0.7040 range top capped the upside. The hot Sep CPI print in today's Asia session spiked the pair to a 0.7054 cpi high, but the move faded back below the range top as a firmer USD into FOMC capped follow-through. Price holds just above EMA(20) near 0.7031 with RSI(14) back near 52, between the 38.2% and 50% retracement of the week's 0.7009–0.7054 leg.
Support: 0.70306, 0.70229, 0.7009
Resistance: 0.7040, 0.70539
What it said to watch
H1 close back above the 0.7040 range top reopens the 0.7054 cpi high
A break of EMA(20) and the 0.7023 asian low takes out the higher-low trendline
Failure to hold the 0.7009 week low shifts the read to a lower-low
FOMC decision and Warsh press conference in today's US session could materially shift this read
Higher lows from 0.7009 week low; 0.7040 prior high broken briefly on CPI then lost.
From the 0.7027 week open, AUDUSD slipped to a 0.7009 week low around Monday's NY session, then built higher lows as Tuesday's NY session pushed back into the 0.7040 prior high. Hot Sep CPI in today's Asia session spiked price to a 0.7054 week high, but the move faded back below 0.7040 as the USD held two-week highs ahead of FOMC. Price now sits near the 38.2% fib of the 0.7009–0.7054 leg, above EMA(20) with RSI(14) back to the mid-50s.
Support: 0.7027, 0.7023, 0.7009
Resistance: 0.7040, 0.7054
What it said to watch
H1 close back above the 0.7054 week high would negate the false break read
Loss of the higher-low trendline and the 0.7023 tue low puts the 0.7027 week open behind price and exposes the 0.7009 week low
Acceptance below the 0.7040 prior high keeps the CPI spike framed as a rejection
FOMC decision 18:00 UTC and presser 18:30 UTC could materially shift this read
Range break above 0.7040 on CPI, now retesting the old range top with higher lows beneath.
AUDUSD held a 0.7009–0.7040 range through Monday and Tuesday. Tuesday's London-NY push printed higher lows before the hot AU monthly CPI drove an Asia-session range break to a cpi high of 0.7054. A firm USD trimmed the spike back to the 0.7040 range top within the hour, so price is now retesting the old ceiling with RSI(14) near 58. EMA(20) and the 50% retracement of the 0.7009–0.7054 leg cluster at 0.7031, just above Tuesday's 0.7023 higher low.
Support: 0.7031, 0.7023, 0.7009
Resistance: 0.7040, 0.7054
What it said to watch
FOMC decision at 18:00 UTC and Warsh's December guidance could materially shift this read
H1 close back below the ema20/50% cluster at 0.7031 would turn the range break into a false break
Loss of the 0.7023 higher low breaks the rising trendline and brings the 0.7009 week low back into focus
H1 close above the 0.7054 cpi high would extend the breakout beyond the range top
01:04 UTC
Sideways, range with rising lows · RSI 52 · price 0.70315
0.7009–0.7040 range since Monday open; CPI spike false-broke the top.
AUD/USD has held a 0.7009–0.7040 range since Monday's open. A Monday NY dip found the week low, Tuesday's London push stalled at the range top, and the hot Australian CPI in the Asia session spiked price to the 0.7054 cpi high before the move was faded straight back inside within the hour. Lows have stepped up from 0.7009 to the 0.7023 higher low along a rising trendline, with price sitting just above EMA(20), RSI(14) back near 52 and pulling into the 50–61.8% zone of the cpi leg fib around 0.7028–0.7033.
Support: 0.70229, 0.7009, 0.7000
Resistance: 0.7040, 0.70539
What it said to watch
H1 close back above the 0.7040 range top would turn the CPI false break into a breakout, with the 0.7054 cpi high next
Failure to hold the 0.7023 higher low and rising trendline returns focus to the 0.7009 week low and 0.7000 psych
FOMC decision at 18:00 UTC and Warsh press conference could materially shift this read
00:03 UTC
Sideways, two-way chop inside weekly range · RSI 49 · price 0.70292
Range 0.7009–0.7040 since Monday open, higher lows off Tuesday low.
AUDUSD has held a 0.7009–0.7040 range since Monday's open. The range top capped Monday's Asia and London highs and again in Tuesday's NY session, as firm US durables and housing data kept USD supported. Tuesday's rally off the 0.7009 week low has pulled back to near the 50% fib, holding a line of higher lows, with price back above EMA(20) at the 0.7027 weekly open and RSI(14) flat near 49 in a quiet Asian session ahead of Bullock and CPI.
Support: 0.7027, 0.7009, 0.7000
Resistance: 0.7036, 0.7040
What it said to watch
Bullock at 00:15 GMT and CPI/trimmed mean at 00:30 GMT could materially shift this read
H1 close above the 0.7036 prior close and 0.7040 range top ends the three-test cap
Break of the Tuesday higher lows line and the 0.7027 weekly open returns price to the range middle
Loss of the 0.7009 week low and 0.7000 round number invalidates the range read
FOMC at 18:00 UTC is a second event risk for this structure