Breaking higher. First positive day after 8 straight down days? Close above 0.6872.
The Australian CPI came in higher than expected and that is giving the AUDUSD a lift.
The price before the report was trading at session lows (and lowest level since June 19) at 0.6962. The pair has moved to a new high at 0.68895.
In the process, a trend line at 0.6881 has been broken. That is a tilt to the upside technically for a pair that has been down for 8 straight days. The close yesterday was at 0.6872. I would look for the 0.6772-81 to be an area where buyers will take a shot that the bottom is in place for now for the pair.
