AUD/USD: now headed to 0.7930?

AUD/USD is currently trading at 0.7881  with a high of 0.7888 and a low of 0.7877.

So where now for the dollar after CPI miss?  - BBH

AUD/USD closed Friday's business a handful of pips below 0.79 the figure and at the strongest level in two-weeks. The Bulls took full advantage of the broad-based dollar weakness post the US CPI miss, extending the recovery from 0.7733 lows. 

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Between a jump in China's imports and lower US rates, the Australian dollar jumped before the weekend, noted analysts at Brown Brothers Harriman:

"The 0.8% gain was the largest in two months and extends the advance for the fourth consecutive session.  It finished with its 20-day moving average (~$0.7870) for the first time September 20.  The advance has also completed the 38.2% retracement of its decline since September 8(~$0.7885).  The next retracement is near $0.7930.  The daily technical indicators warn of the likelihood of additional gains in the days ahead.  The weekly technical indicators are not nearly as favorable." 

AUD/USD levels

AUDUSD: Had a strong end to the week

"In the meantime, the technical picture is bullish as the pair settled above the 38.2% retracement of its latest slump from 0.8098," Valeria Bednarik, chief analyst at FXStreet explained. "In the daily chart, indicators maintain sharp bullish slopes, entering bullish territory straight from oversold readings while the price settled above an anyway bearish 20 DMA," Valeria explained. "In the 4 hours chart," she said, "the price accelerated sharply above a now bullish 20 SMA, while technical indicators regain their upward strength within overbought readings. The next Fibonacci resistance comes around 0.7920, with gains above it opening doors for a steeper recovery."