Chart - Courtesy Trading View
AUD/USD was trading 0.65% lower on the day at 0.6674 at around 09:30 GMT, outlook bearish.
A pickup in the USD demand drags the pair lower at the beginning of the week's trade.
August US consumer inflation data cemented expectations for a more aggressive policy tightening by the Fed.
Higher US yields on Monday amid a goodish pickup in demand for the US dollar likely to drag the pair lower.
The Fed is scheduled to announce its policy decision on Wednesday, and markets have fully priced in a 75 bps rate hike.
Technical bias for the pair is strongly bearish. Next immediate support lies at June 2020 lows at 0.6648.
5-DMA is immediate resistance at 0.6714. Bearish invalidation only above daily cloud.
