VOT Research Desk
As it consolidates the significant losses from the previous day in the early hours of Tuesday, the AUD/USD reaffirms its intraday high at 0.6760.
The Aussie pair also applauds the US Dollar’s decline in value before the important US Consumer Price Index (CPI) for November.
However, inconsistent readings of US inflation predictions from the Federal Reserve (Fed) banks in New York and St. Louis lately appear to be luring the US CPI’s bearish slant and helping the AUD/USD bulls.
Moving on, AUD/USD traders may experience sluggish markets prior to the release of US inflation data.
Despite the recent recovery, the AUD/USD remains unsteady as it trades between the 21-DMA and the resistance line from the previous week, which are located, respectively, near 0.6730 and 0.6795.
|
Daily SMA20 |
0.6727 |
|
Daily SMA50 |
0.6531 |
|
Daily SMA100 |
0.6678 |
|
Daily SMA200 |
0.6907 |
