AUD/USD Price Analysis: More downside seems favored below 0.6490 amid hawkish Fed bets AUDUSD RBA Inflation Fed SupportResistance
Monthly Australian Consumer Price Index soared to 6.8% vs. the estimates of 6.4% and the former release of 6.3%. This could force the Reserve Bank of Australia to continue hiking interest rates as the battle against stubborn inflation is getting more complicated. is struggling in extending its rally above 104.35, however, the upside seems favored as chances of one more interest rate hike by the Federal Reserve are soaring.
Downward-sloping 10-period Exponential Moving Average at 0.6558 indicates that the short-term bearish bias is extremely solid.
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