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12.02.2025 09:21 AMOn Monday, the Australian dollar consolidated above the 0.6273 level, confirming bullish momentum. The next target is set at 0.6351, and a breakout above this level could pave the way toward 0.6482. The Marlin oscillator continues to rise, supporting further price appreciation.
Today, the U.S. inflation data for January is set to be released. The core Consumer Price Index (CPI) is expected to decline from 3.2% year-over-year (YoY) to 3.1% YoY, while the headline CPI is forecasted to remain steady at 2.9% YoY. These figures could provide short-term support for the Australian dollar. However, traders should also be attentive to the Reserve Bank of Australia's (RBA) monetary policy decision scheduled for February 18.
On the H4 chart, the price remains above all key support levels, reinforcing the uptrend. The Marlin oscillator has turned upward from the neutral zero line, confirming bullish momentum.
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