AUD/USD is trading at 0.63825, 0.12% up since previous day close. The Aussie appreciated in early trade on Wednesday post release of CPI data which showed a rise in inflation rate by 1.2% from 0.8% in the previous month & hence, increases the chances of rate hike in upcoming RBA meetings. Also, the improving Chinese economic conditions after Beijing unveiled the plan to issue government bond worth 1 trillion yuan in order to boost infrastructural development turned out to be positive for AUD/USD since China & Australia are the trading partners. As seen in the chart, the pair reversed up from lower trend-line of channel pattern; crossing over MA (10) & MA (20) & hence, buying on lower side may be recommended further.

CHNIND is trading at 5888.3, 0.12% up since previous close. The Chinese shares rallied on Wednesday after the Beijing announced a plan to issue government bonds worth 1 trillion yuan in order to boost infrastructural development. Earlier to this, the indices were trading at lower levels on account of rising tension between Middle East regions, higher U.S bond yield & uncertain view over Fed’s monetary policy outlook. Last week, the PBoC left short term & long-term interest rate unchanged at 3.45% & 4.20% respectively which neutralized the trading effect in CHNIND. As seen in the chart, the index is hovering lower trend-line of channel pattern & is forming double support level which indicates a reversal if sustained or a strong breakdown if breached.

WTI Oil is trading at $83.53, 0.26% down since previous day close. The Oil prices slid down on Wednesday amid slowing consumption demand from Europe; as the economy showed poor PMI figures in the previous session. Earlier, the prices rallied amid escalating tension between Hamas & Israel which may affect the Oil supplies. Last week, the US President Joe Biden unveils the plan to refill Oil SPR levels beginning from the month of December this year which remained supportive for prices earlier. The result of U.S EIA report will remain in focus for the day. As seen in the chart, the Oil slid down to MA (100) which acts as a major support level & hence, a strong breakdown can be seen if breaches the level.