AUDUSD BEARISH CONTINUATIONThe strong bearish indicators on AUD/USD 4h Tf presents a bearish outlook. The Q3 CPI figure of 139.1 and the monthly CPI indicator at 2.1% indicate that inflation is trending higher than expected, which may lead to a stronger Australian in the long term dollar as it suggests that the Reserve Bank of Australia might consider tightening monetary policy in response to rising inflation.
If price pulls back to the 0.6550 or 0.6600 resistance area, it could provide an opportunity to enter a short position. Around 0.6400 Support area we may consider an entry opportunity.