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Forex: AUD/USD edges lower on CPI miss

FXstreet.com (Barcelona) - The AUD/USD is currently trading down 15 pips at 1.0243. The pair was previously trading as high as 1.0275 earlier in the session before the CPI figure release which sent the pair as low as 1.0236.

According to analysts at FXStreet.com, “The Australian consumer price index series came at the lower end of expectations, with the first quarter price inflation standing at +0.4% QoQ vs +0.7% expected. On a yearly basis, +2.5% YY vs +2.8% expected was the read. The 'core' also known as RBA trimmed mean CPIs (QoQ) came at +0.4% vs +0.5%, while on a year-to-year basis, +2.3% was the print vs expectations of +2.4%”

The FXStreet.com Trend Index remains slightly bullish on the 1 hour time frame, while the OB/OS index is neutral. First support comes in at 1.0220 (previous day low), followed by 1.0170 (important support pivot on weekly chart). Initial resistance can be found at 1.0255 (previous support on 1 hour chart), followed by 1.0280 (previous support on daily chart).

Australian CPIs softer-than-expected

The Australian consumer price index series came at the lower end of expectations, with the first quarter price inflation standing at +0.4% QoQ vs +0.7% expected. On a yearly basis, +2.5% YY vs +2.8% expected was the read.
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Forex: NZD/USD eases below 0.8450

NZD/USD has retraced all the way from the fresh session top at 0.8463 following RBNZ rate statement to where it was before the release, and now trades at 0.8430 last. The pair has also eased a bit after Australia CPI figures came in lower than expected, though it is still holding above session lows at 0.8411.
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