• AUDUSD remained depressed for a fourth day after China's monthly inflation data.
  • China's CPI fell below and earlier forecasts, and the CPI for August crossed the line.
  • The risk-off sentiment took cues from the update of COVID figures, a number of reports related to QE tapering and pre-ECB caution.
  • The US and Fed weekly employment data also became important but not more important than the ECB.
The daily AUDUSD analysis from the GIC will discuss the AUDUSD pair which remained depressed for the fourth day in a row and fell by 0.13% after China released key inflation data for August on Thursday morning. AUDUSD is also weighed down by risk-off sentiment and pre-ECB caution. When the AUDUSD analysis article was written today, September 9, 2021, the AUDUSD pair was at the level of 0.7369. China's Consumer Price Index (CPI) fell to 0.1%, below the forecast of 1.0% and the previous 0.8% and also fell below the market consensus of 0.5% on, while the Producer Price Index (CPI) exceeded the expected figure of 9.0% by 9.5%. Given the mixed inflation data, AUDUSD maintained its weekly move towards the south after the release of the data. In addition to the data, sour sentiment also weighed on the AUDUSD price due to the risk barometer status of the currency pair. Among the negatives, a number of reports related to the tapering of QE by the Fed and concerns for the economy due to the recent rise in coronavirus numbers came in first. While a jump in record-high US JOLTS Job Openings helped Fed policymakers to repeat their bullish bias, the rise in the number of virus infections challenged buyers. St. Louis Fed President James Bullard and New York Fed President John Williams supported the cuts in 2021 while Dallas Federal Reserve Bank President Robert Kaplan laid the scenario for a QE cut in October despite the Q3 GDP cut due to COVID. It is noteworthy that Australia reported a second day of an increase in the number of COVID cases while China also recorded an increase in the number of COVID-19. It is worth noting that doubts over US President Joe Biden's strategy, which will be published on Thursday, join the diverse views of US diplomats regarding the reappointment of Jerome Powell as Fed Chairman will weigh on sentiment. In addition, signals from Republicans and some Democrats will offer a difficult path to US stimulus, which also undermines sentiment. Furthermore, market participants are likely to remain cautious, largely maintaining the latest wave of risk aversion, ahead of the European Central Bank's (ECB) main monetary policy meeting. Another important thing is the weekly US job numbers and headlines related to the Corona virus as well as the US stimulus.
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What is the technical analysis of AUDUSD?

The Aussie movement is predicted to continue weakening or bearish towards the S1, S2 and even S3 levels, but if it cannot continue its weakness, it will return to the Pivot level or it may move to the R1, R2 and even R3 levels, for details can be seen below.
  • Pivot point is at 0,73711
  • Resistance 1 = 0,73977
  • Resistance 2 = 0,74301
  • Resistance 3 = 0,74567
  • Support 1 = 0,73387
  • Support 2 = 0,7121
  • Support 3 = 0,72797
This the daily analysis of AUDUSD September 9, 2021. Still confused about how to read the analysis to be sure of profit? Don't worry, you can read articles about the forex market in the GIC Journal. GIC also provides a trading education platform for traders for beginners and professionals so that traders are more proficient in profit. This education can be in the form of webinars, e-books, or videos. There are many classes that you can take for free if you become a trader at GIC. Let's take a peek at Forex Academy! Don't forget to also take part in events at GIC such as Friday Barokah where you can get a bonus if you guess the closing price at 21.00 WIB.