The Australian dollar remained volatile around 0.64499 against the US dollar. Australia's three-month annualized inflation rate was 2.7%, within the RBA's target range of 2%-3%. Inflation in Australia continued to follow the decline in the US, but with a lag of about six months, just as it lagged on its rise.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short momentum has fallen, the short-term decline continues, the market is shrouded in bearish sentiment, the MACD indicator is in the long zone and is slowly declining, and the RSI indicator is hovering weakly below the 50 equilibrium line;
Resistance levels: 0.64648 0.64746
Support levels: 0.64391 0.64286
Trading strategy: bearish below 0.64549, target 0.64391 0.64286
Alternative strategy: Bullish above 0.64549, target 0.64648 0.64746