{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/the-us-ppi-and-cpi-seem-to-have-failed-to-dampen-the-upside-correction-in-the-audusd-market\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/the-us-ppi-and-cpi-seem-to-have-failed-to-dampen-the-upside-correction-in-the-audusd-market\/","headline":"The US PPI and CPI May Have Failed to Stop the Upside Correction in the AUDUSD Market","name":"The US PPI and CPI May Have Failed to Stop the Upside Correction in the AUDUSD Market","description":"The AUDUSD price action has continued its upward trajectory despite the release of US CPI and PPI data towards the end of last week’s trading session. Consequently, it appears that these two fundamentals have failed to affect the dollar positively. The AUDUSD seems poised to continue its upward trend from the end of last week. […]","datePublished":"2024-02-19","dateModified":"2024-02-19","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/02\/ausnzd-dollars.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/02\/ausnzd-dollars.png","height":529,"width":800},"url":"https:\/\/forexschoolonline.com\/the-us-ppi-and-cpi-seem-to-have-failed-to-dampen-the-upside-correction-in-the-audusd-market\/","about":["AUD\/USD","FX Technical Analysis","Technical Analysis"],"wordCount":318,"keywords":["AUDUSD","Forex","Technical Analysis"],"articleBody":"The AUDUSD price action has continued its upward trajectory despite the release of US CPI and PPI data towards the end of last week’s trading session. Consequently, it appears that these two fundamentals have failed to affect the dollar positively. The AUDUSD seems poised to continue its upward trend from the end of last week. Let’s see how things play out shortly.Key Price Levels:Resistance Levels: 0.6506, 0.6600, and 0.6700Support Levels: 0.6500, 0.6400, and 0.6300AUDUSD Posts Minimal GainsIn the AUDUSD daily market, it can be seen that Thursday’s session printed some downward corrections. However, Friday’s session showed minimal upside corrections, despite the release of the US CPI and PPI data. Friday’s trading session closed with the current price of the pair above three out of the five sets of the Guppy Multiple Moving Average (GMMA) lines.Likewise, the Moving Average Divergence Convergence indicator lines have been steadily rising below the equilibrium level. Also, the bars of the indicator above the equilibrium level are now solid green. This suggests that the pair’s price may continue to rise in the coming sessions.AUDUSD Is Trying to Show Bullish ConsistencyExtending the AUDUSD price analysis to a 4-hour market, we can see that upside forces are attempting to maintain consistency in advancing the market upwards. The last green candle here has appeared just below the crossed GMMA lines. But at the same time, the Stochastic Relative Strength Index (SRSI) has started indicating that upside forces may gain further momentum.This can be observed through the crossover seen in the indicator below the 50 mark. Additionally, the ensuing lines now have an upward trajectory, indicating that the upward correction may continue. Consequently, traders can continue to use bullish Forex signals, as the market may journey towards the 0.6600 mark pending contrary fundamentals.Do you want to take your trading to the next level? Join the best platform for that here."}