Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements.
Weaker risk sentiment pulls the AUD to its lowest levels since January
Information is not investment advice
AUD/USD continues to move within the downward channel. At the moment, the aussie is testing the support at 0.6917. This is the lowest level for the pair since the flash crash at the beginning of January. The next support lies at 0.6871. The bearish weakness may help bears to push the Australian dollar back to the resistance at 0.6957. If this level is broken, the next resistance will lie at 0.7. RSI is currently testing the oversold zone, while the Stochastic indicator is already moving within this zone.
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