AUDUSD moves lower helped by lower Australian CPI data overnight ...Middle East

Headline CPI: +2.4% y/y (expected 2.5%, prior 2.8%).Headline CPI: +0.2% q/q (expected 0.3%, prior 0.2%).Trimmed Mean CPI (Core Inflation): +3.2% y/y (expected 3.3%, prior 3.5%).Trimmed Mean CPI (Core Inflation): +0.5% q/q (expected 0.6%, prior 0.8%).Weighted Median CPI (Core Measure): +3.5% y/y (expected 3.5%, prior 3.8%)

That decline, kickstarted the downside further away from the 200 hour moving average, and that momentum took the price to a low of 0.62095. The next key target on the downside comes at 0.61917 to 0.6200. Watch the initial lower after the CPI near 0.6227 as close short-term resistance. Above that the 0.62457 will be eyed.

This article was written by Greg Michalowski at www.forexlive.com.

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