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AUDUSD Aussie Dollar Crushed Post CPI Report.
AUDUSD Aussie Dollar Crushed Post CPI Report :
- Australian Dollar traded down against the US Dollar and looks set for more declines.
- There was a major support area at 0.7700 in AUDUSD, which was broken during the downside drift.
- Australian Consumer Price Index released by the RBA and republished by the Australian Bureau of Statistics posted a decline of 0.2% in Q1 2016, compared with the forecast of +0.3%.
- The yearly Consumer Price Index of Australia posted a rise of 1.3%.
AUDUSD Technical Analysis:
AUDUSD Aussie Dollar Crushed Post CPI Report, the AUDUSD pair was trading with a positive tone until the release of the CPI report. The report missed the forecast completely, and as a result, there was a downside move in the Aussie Dollar.
The pair also broke a major support area of 0.7700 and looks set for more declines in the near term, as it is now below the 100 and 200 hourly simple moving averages.