FxWirePro: AUD/USD breaks below 200 DMA, good to sell rallies

AUD/USD slumps over 60 pips on surprise Australian CPI inflation numbers which came lower across the board.

• Australia's Q3 CPI q/q came in at 0.5%, below forecasts of 0.6%, y/y was also below expectations at 1.5% vs 1.7% expected
   
• Data now increases chances of RBA easing in November, weighing futher on the Aussie
   
• Daily momentum is bearish, close below cloud could accentuate downside, pair could test 0.7041 levels
   
• Next immediate support at 0.7067 (Oct 6 lows) and then below at 0.7041 (Oct 5 lows)
   
• Resistance on the topside is at 0.72 and further ahead at 0.7227 (10 DMA)
   

Recommendation: Good to sell rallies around 0.7130, SL: 0.72, TP: 0.7045