EDGE Chart of the Day – AUDUSD (October 24th, 2023)

<div><p><div><h2 itemprop="headline">AUDUSD building a Bearish Wedge Ahead of CPI</h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>The AUDUSD is building a bearish wedge ahead of the CPI data due out on the 25th in Australia. The market is a little nervous as last week the inflation data out of New Zealand came in well below expectations. The AUDUSD is building a bearish wedge intraday, with lower highs and consistent lows. A break above the .6380 level or below the .6285 level would cause a breakout or breakdown. On a breakout higher a move towards the .6422 level would be expected, on a breakdown a move towards the .6180 level looks possible.</p>
<p><img decoding="async" fetchpriority="high" class="alignnone size-full wp-image-10882" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/AUDUSD_2023-10-24_10-34-29.png" alt="" width="1517" height="839" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/AUDUSD_2023-10-24_10-34-29.png 1517w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/AUDUSD_2023-10-24_10-34-29-400×221.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/AUDUSD_2023-10-24_10-34-29-800×442.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/AUDUSD_2023-10-24_10-34-29-768×425.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/AUDUSD_2023-10-24_10-34-29-1500×830.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/AUDUSD_2023-10-24_10-34-29-705×390.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/10/AUDUSD_2023-10-24_10-34-29-450×249.png 450w" sizes="(max-width: 1517px) 100vw, 1517px" /></p>
<p>Blake Morrow</p>
<p>Our EDGE <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">“Chart of the Day”</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
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</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Blake Morrow</p>
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