AUDUSD Chart Technical Outlook retreats on weak Australian CPI, next targets are 0.6500 and 0.6445
Australian Dollar’s recovery has been capped at the 4h 200 SMA, and the pair turned lower, weighed by weaker than expected Inflation figures in Australia.
The pair has returned within the bearish channel from early January, increasing bearish traction towards the 0.6500 and 0.6445 support levels. Resistances are at 0.6590 and 0.6625.
In Australia, consumer prices have grown at a 3.4% pace in January, unchanged from the previous month, against market expectations of a 3.5% reading. These figures dampen expectations of further tightening by the RBA.
