AUD - Inflation data slows, Australian dollar gradually shows signs of correction
The Australian dollar fell back to 0.6569 against the US dollar on Thursday, failing to clearly break through the 250 moving average resistance. The technical chart also showed that the RSI and stochastic index fell from the overbought zone, which may indicate that the Australian dollar's current rally will take a break. The support below will firstly look back at the 200-day moving average at 0.6580. The next level is expected to be 0.65 and 0.6450, with the key point being the 0.6340 level. The resistance levels are estimated to be 0.6740 and 0.68 levels, with further reference to the July high of 0.6894.
Resistance 0.6650 - 0.6720
Support 0.6500 - 0.6450 - 0.6350 - 0.6280*
Thursday: Australia’s third quarter capital expenditure (08:30)
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