After being capped just beneath 1.0800 during early Asian session the AUD/USD declined, with an European bounce in the middle.
Stronger than expected US CPI data didn’t have the same effect of yesterday’s risk-on rally on blooming economic data. “The culprit is EUR/AUD which has been absolutely loaded with speculative shorts since the break of 1.29. They are getting squeezed at the moment”, says Adam Button, analyst at Forexlive.com.
According to Mataf.net analysts, resistances are at 1.0800, 1.0845 and 1.0895. On the downside, supports might act at 1.0745, 1.0655 and 1.0625. At the moment of writing, the AUD/USD keeps losing value, now at 1.0725.
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