Holding AUDUSD long
The Australian Dollar gained a little ground against most major currencies following news that expectations for inflation over the next 12 months had risen from 3.8% in September to 4.3% currently.
The number of participants in the inflation survey expecting inflation to be on the up rose from 58.4% to 62.8%, with only 3.8% expecting inflation to fall.
The USdollar has the most optimistic scenarios priced in already and is due a retracement whilst other currencies catch up on the rate hiking cycle.
Nice technical entry at 2016 resistance; aiming the 50% retracement and confluence of ascending channel and monthly descending trendline
The number of participants in the inflation survey expecting inflation to be on the up rose from 58.4% to 62.8%, with only 3.8% expecting inflation to fall.
The USdollar has the most optimistic scenarios priced in already and is due a retracement whilst other currencies catch up on the rate hiking cycle.
Nice technical entry at 2016 resistance; aiming the 50% retracement and confluence of ascending channel and monthly descending trendline
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