AUDUSD Analysis 11.04.2019

The Australian dollar fluctuated in a tight range slipping into the Asian session to see its rebound to its second-highest session since February 27 against the US dollar following developments and economic data that followed it on the Australian economy and on the eve of developments and economic data expected Thursday by the US economy The world's largest economy.

At 3:11 am GMT, the AUDUSD fell 0.18% to 0.7158, the pair's low during the session compared to the opening levels at 0.7171, while the pair reached a high of 0.7172.

On the Australian economy, the Melbourne Institute read consumer expectations for inflationary pressures, which showed a slowdown in growth to 3.9% from 4.1% in March, before we saw the talk of Assistant Governor of the Reserve Bank of Australia in charge of Risk Management Committee Jay Deebel At the annual meeting of the International Association of Exchanges and Derivatives.

On the other hand, the markets are currently waiting for the US economy to release the Producer Price Index (PPI), which is a preliminary indicator of inflationary pressures, which may reflect a rapid growth to 0.3% from 0.1% in February. 1.9%, unchanged from the previous year's reading for February.

In the same context, the core reading of the PPI may accelerate growth to 0.2% from 0.1% in February, while the core annual reading of the same index may show a slowdown in growth to 2.4% from 2.5% in the previous February reading. In conjunction with the disclosure of the reading of the index of requests for aid, which may show an increase of 8 thousand applications to 210 thousand applications during the week of the sixth of April.

The ongoing jobless claims index may also show a rise of 18K to 1,735K in the week before March 30, before Federal Open Market Committee (FOMC) Chairman Richard Clarda's discussion on economic and policy outlook Cash at the top of the Institute for International Financial Policy in Washington.

Before we see the speech of the President of the Bank of New York Federal Reserve John Williams at the annual conference of the Association for Development of Neighborhood and Housing in New York, and the speech of the President of the Bank of St. Louis Federal Reserve James Pollard about the economy and monetary policy at the Community Development Foundation in Tupelo, Mississippi, Federal Reserve Michelle Bowman delivered a speech entitled "Banking in the Age of Innovation" during the Federal Family Lunch hosted by the San Francisco Federal Reserve Bank.

This comes hours after the minutes of the Federal Open Market Committee meeting held on March 19-20, which dealt with a gradual reduction in bond buybacks until September, with the Commission reducing its growth forecast and raising its unemployment forecast. To drop its interest rate expectations for the year 2019, while the Committee kept its expectations to raise them once next year 2020 while agreeing to stay on interest rates between 2.25% and 2.50% at the time.

Technical analysis:

The AUDUSD gave a positive trading session yesterday to touch the resistance of the bullish intraday channel, and some temporary decline may be forced by the negativity of Stochastic, indicating that the main upside trend remains effective, relying on stability above 0.7044 main.

The trading range for today is expected among the support at 0.7100 and the resistance at 0.7220.

The general trend for today is bullish.