AUDUSD ahead of the CPI read and FOMC.

bulls too. Many bulls will point at the continued lockdowns in Australia is weighing on the AUD, but most of 2021 the AUD has been lagging risk assets and the spike higher in many commodities. So, in the event we have a higher CPI print overnight, this may allow for some great risk vs reward entries ahead of the FOMC tomorrow above the .7400 level for fresh shorts. The FOMC may be dovish tomorrow which would be bullish for the AUDUSD as the USD would be sold on a “more than expected” dovish Fed, but how about if they are more hawkish?