AUDUSD Technical Analysis

AUDUSD ignores strong US data despite overbought conditions. Get the latest insights on Aussie with today’s, 15 January AUDUSD Technical Analysis. What can Aussie traders expect next?

15 January, GKFXAUDUSD closed above 0.78 on Friday and remains bid above the psychological level today as strong US data failed to put a bid under the greenback.

Key Quotes

  • AUD/USD is bid above 0.78.
  • Strong US data fail to lift greenback.
  • AUD/USD charts indicate short-term overbought conditions.

US inflation as represented by core CPI (excludes food and energy) rose 0.3% m/m and 1.8% y/y percent in December, data released on Friday showed. Meanwhile, the retail-control group sales, which are used to calculate GDP and exclude food services, auto dealers, building materials stores and gasoline stations, rose 0.3% in December following an upwardly revised 1.4% advance, which as per Bloomberg report was the largest since 2005.

The upbeat data are likely to keep the Fed on track to raise rates in March. Accordingly, the 10Y Aussie-US spread dropped slightly to 17.9 bps from 18.6 bps. Still, the USD refused to catch a bid, thus, allowing the AUD/USD pair to cheer the strength in commodities despite overbought technical conditions.

The pair could remain in the tight range as no China or Aussie data is due for release today and NY is closed.

15 January AUDUSD Technical Analysis

The daily RSI shows overbought conditions. Also, a bearish RSI divergence would be confirmed if the spot closes today below 0.7875 (Jan. 5 high).

Reuters says positive momentum studies –  5, 10 & 20 DMAs trend north – point to a bullish setup. Friday’s close above 0.7898 (Oct high) targets 0.7978, 76.4% Sep/Dec fall. It adds, ” 0.7896, 38.2% NY rise & 0.7925 NY high initial support/resistance.”


This article “15 January AUDUSD Technical Analysis” was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

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