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AUD/USD slips below technical support as inflation misses estimates

Much earlier today the latest CPI data from Australian missed forecasts on the downside. Annualised CPI rose by 4.1%, where a rise of 4.3% was expected. That news has helped to push the AUD/USD down to its lowest levels of the week so far. The AUD/USD closed in the US last night at 0.6602 and the low seen earlier this morning was set at 0.6559. That means the Aussie has now fallen back underneath its 200 day moving average again. That is in place this morning at 0.6577. There are still significant concerns overhanging the outlook for Chinese markets and that is a headwind that seems to be coming back to roost for the AUD/USD ahead of the monthly close this evening. The AUD/USD is currently trading at 0.6563

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