📈 Market analysis: Australian Dollar Faces Downward Pressure as US Dollar Holds Strong
The Aussie Dollar (AUD) is struggling against the US Dollar (USD) ahead of the US CPI data release, expected to show a slight inflation rise. A strong inflation print could boost the USD, reducing the chances of a Fed rate cut.
The RBA also kept rates unchanged at 4.35%, adding pressure to the AUD.
Technical Snapshot: AUD/USD is hovering around 0.6370, with support at 0.6348. Resistance sits at 0.6428, with a break above possibly pushing the pair to 0.6687.
📘Read the full analysis here: https://www.kvbplus.com/insigh...
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