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TacticalTrade

AUD/USD Downside Price Action

Short
Australian Dollar / U.S. Dollar (OANDA:AUDUSD)  
TacticalTrade Updated   
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
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AUDUSD

AUD/USD is holding lower ground near 0.6950 as sellers keep reins following softer Chinese CPI and PPI data.

Markets remain risk-averse ahead of US inflation, which is crucial for the Fed's next rate hike move.

Short term outlook - Further Price depreciation - Pending important economic data.
Trade closed: target reached:
Price fell from recent resistance area to support area on the Daily chart.
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