AUD/USD analysis: Aussie weak, inflation expectations a short-term catalyst
|AUD/USD Current price: 0.7783
The AUD/USD pair trades within a well-limited range, contained by the 0.7800 level, amid the absence of local data, but things are about to change, as the upcoming Asian session will bring a good bunch of relevant data, including investing and housing figures, and the October consumer inflation expectations, this last usually a critical report for the Aussie. The commodity-related currency is clearly within a bearish trend, having been unable to benefit from a softer dollar, and would take more than one positive report to change that, but in the short term, a better-than-expected report should give the AUD a boost. The main resistance from the current level stands at 0.7835, the level to surpass to get a more constructive outlook. Technically, the pair remains neutral short term, given that in the 4 hours chart, the price is standing a few pips above a horizontal 20 SMA, whilst technical indicators lack directional strength, barely holding above their mid-lines.
Support levels: 0.7730 0.7680 0.7640
Resistance levels: 0.7835 0.7880 0.7925
View Live Chart for the AUD/USD
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