AUD/USD reacted positively after CPI and Westpac Consumer Sentiment

AUD/USD had a positive reaction to the CPI q/q posted a few minutes, which was expected to be 0.5%, but the current reading was found to be higher than expected (0.8%) and higher than the previous reading (1.2%).

Now, the Aussie has managed to make a breakout at the level of 0.8835 and now this pair is faced with strong resistance at the level of 0.8866, where the 200 SMA is located. Before the release of the CPI, the AUD/USD was near the daily pivot point at the level of 0.8805. If this pair carries a breakout level of 0.8866, the next resistance level would be 0.8896.

The MACD indicator is in positive territory, strengthening the current bullish trend in the aussie.

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