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AUD/USD hits daily lows after Australian CPI

FXStreet (Córdoba) - AUD/USD fell to fresh intraday lows as the knee-jerk reaction to Australian consumer price index, which came in mainly in line with expectations.

Australian CPI rose 0.5% in Q3 and 2.5% year-over-year, against expectations of 0.4% and 2.5% respectively.

AUD/USD initially moved lower and printed a low of 0.8742, but quickly bounced to pre data levels around 0.8770, as data seems unlikely to impact RBA expectations. At time of writing, AUD/USD is trading at 0.8765, just a few pips below its opening price.

AUD/USD has failed to benefit from the strong rally seen in stocks around the globe as investors remain sidelined ahead of the Australian consumer price index.

AUD/USD levels to watch

In terms of technical levels, AUD/USD could find immediate supports at 0.8742 (intraday low), 0.8700 (psychological level) and 0.8685 (Oct 16 low). On the other hand, resistances are seen at 0.8832 (Oct 20 high), 0.8860 (Oct 15 high) and 0.8898/0.8900 (Oct 9 high/psychological level).

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