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Tuesday, April 24, 2012

AUD-USD Drops after CPI datas release

Australian Dollar drops after the release of a disappointing CPI number of 1.6% (2.2% expected), this will probably bring RBA to cut interest rate as suggested by the minutes of the last RBA meeting.
Will the 61.8% Fibonacci retracement hold as it did recently or shall we expect price to drop lower? Let's see if it makes it to the 76.4% which stands at 1.01 roughly.
Volatility ( measured using ATR set at 14 periods) is at the lowest level since January the 11th


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