Short

AUD Bulls Charge on China CPI & Trade Hopes

is trading near 0.6510, buoyed by China’s better-than-expected May CPI print at -0.1% YoY (vs forecast of -0.4%) and optimism over the renewed U.S.-China trade dialogue, which has improved global risk sentiment.

Despite weak Australian Q1 GDP and a narrower trade surplus, the Aussie remains firm as a proxy for Chinese demand and commodity-linked risk appetite.

From a technical perspective, the pair is moving within an ascending hourly channel and is currently testing key resistance at 0.6517. A confirmed breakout could clear the path toward monthly resistance at 0.6582. However, failure to break higher may see a pullback to 0.6492, or deeper to the critical support at 0.6411. As long as the channel structure remains intact, the bias stays bullish.

Resistance : 0.6517 ， 0.6582
Support : 0.6492 ， 0.6411

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ATFX_Global

ATFX is a globally regulated, award-winning fintech broker offering customer support in 20 languages.
👉🏼Start your trading journey with ATFX: bit.ly/3mLMPHz

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