Australia PPI annual rate (+2.5%) in the first quarter (expected +2.2%), the previous value (+1.9%); on a quarterly basis PPI +0.9% versus expected +0,6%, the previous value +0,2%.

The pair has been in a downtrend from 0.9460 levels. The pair is taking support at 200EMA in the daily chart. It seems it will pause its down trend and move to 0.9316 and 0.9376 initially. In Asia's trading session the pair is trading at 0.9277. A move above 0.9316 is a safe buy. On the down side, 0.9227 is the initial support to break, below this, 0.92 and 0.9183 are strong support levels. A day close below 0.918 (50daily sma), the next bearish wave will develop towards 0.8994, 0.8923 and 0.8890 levels. We are expecting a pull back today and on Monday. The RSI in the daily chart do not favor longs. But in the H4 cahrt, it signals a pull back call in 1 or 2 days. On an intraday basis, we can see the bull strength above 0.9312 levels.

On a positional basis, until the pair trades below the 0.9387, target is open for 0.91 levels.