AUDUSD: low move down

The Australian dollar remained volatile near 0.66027 against the US dollar. According to data released by the Australian Bureau of Statistics today, the CPI rose by 1.4% quarterly in the first quarter, slightly higher than market expectations of 1.3%. The annual growth rate fell to 7.0% from 7.8%, again beating expectations of 6.9%. Australian inflation eased from a 33-year high in the first quarter as the cost of living rose at the smallest pace in more than a year, while core inflation came in below expectations, suggesting less pressure on the RBA to raise rates again.

Australian dollar AUDUSD - 4-hour K-line chart shows:

Looking at the 4-hour chart: The low-level short-term momentum continues to fluctuate and move down, the short-term decline may continue, the market as a whole is in a bearish trend, the MACD indicator is in the short-term area, and the RSI indicator is in the short-term area.

Resistance levels: 0.66222 0.66356

Support levels: 0.65900 0.65790

Trading strategy: bearish below 0.66083, target 0.65900 0.65790

Alternative strategy: Bullish above 0.66083, target 0.66222 0.66356