The AUD/USD pair falls sharply after facing tough barricades near the round-level resistance of 0.6400. The Aussie asset faced a sell-off after the re
AUD/USD found an intense sell-off near 0.6400 after a sticky Australian inflation report. A sticky Australian inflation report has prompted expectations of one more 25 bps interest rate hike from the RBA. The US Dollar strengthens as a recovery in factory activities could escalate hawkish Fed bets. lease of the sticky Australian Consumer Price Index report for the July-September quarter. The Australian Bureau of Statistics reported that consumer inflation grew at a higher pace of 1.
The 200-period Exponential Moving Average issloping downside, which indicates that the broader trend is bearish. Major support is plotted from October 3 low at 0.6287. The Relative Strength Index trades in the 40.00-60.000, indicating a consolidation ahead of crucial US economic readings. A fresh downside would appear if the Aussie asset drops below October 03 low around 0.6286. This would expose the asset to 21 October 2022 low at 0.6212, followed by 13 October 2022 low at 0.6170.
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