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AUD/USD down to six-week lows after CPI data earlier

After the big fall from February to early March, AUD/USD has largely been consolidating between 0.6600 to 0.6800 as seen above. Any semblance of upside momentum had been stalled by both the 100 (red line) and 200-day (blue line) moving averages, before the added turn lower this week.The drop yesterday saw price get stuck in around daily support from the 24 March low at 0.6625 but we are now seeing price break below that to fresh six-week lows.This comes after the Australian CPI data here, which... Read More

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Posted: Apr 26 2023, 04:22

Author Name: forexlive

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