Chart - Courtesy Trading View
AUD/USD was trading 0.24% lower on the day at 0.7337 at around 08:17 GMT.
The pair has snapped 2 straight session's of gains and is poised for further downside.
On the weekly charts the pair has formed a spinning top at weekly cloud resistance.
5-DMA has turned south, Chikou span is biased lower. However, MACD and ADX still support gains.
Jump in China’s daily covid infections and fears over escalating Russia-Ukraine crisis keep the antipodeans depressed.
US inflation data on Thursday stoked hopes of faster rate hikes from the Fed. Focus now on Michigan Consumer Sentiment Index for further impetus.
Aussie fails to benefit from hawkish comments from the Reserve Bank of Australia (RBA) Governor Philip Lowe earlier today.
RBA’s Lowe noted core inflation in Australia was still modest at 2.6% and wages were growing only gradually, which allowed time before a hike.
Technical bias for the pair remains bullish. Retrace below 200-DMA could change near-term dynamics.


FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
FxWirePro:EUR/AUD eases but bullish outlook persists
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
FxWirePro- Major Crypto levels and bias summary
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish
FxWirePro: GBP/NZD retreats slightly but trend is still bullish
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
FxWirePro: USD/ZAR edges higher but bearish outlook persists
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 



