Australian is under pressure of the flat inflation data

The publication of unexpectedly flat data on the consumer price index in Australia had a significant pressure on the national currency. Despite the fact that the CPI showed growth in the third quarter, it did not meet expectations of the market. For more information about statistics on Australia and not only.

As a result of the rapid decline at the beginning of the day, the pair AUD/USD broke through a significant support of 0.7740-30 (Fibo 38.2 from the low of December 2016). This indicates the possibility of further reduction of the pair to support levels of 0.7680 and 0.7650 (Fibo 50.0 from the low of December 2016). The resistance level is the range of 0.7740-30.

Hanzenko Anton