AUD/USD chart - Trading View
AUD/USD was trading largely muted at around 0.7740 at 04:55 GMT, outlook remains bullish.
The pair has paused 3-day winning streak after downbeat China CPI data. Positive China PPI fails to put a bid under the Aussie.
The Consumer Price Index is released by the National Bureau of Statistics of China showed Jan CPI fell -0.3% YoY, missing estimates at 0.0%. On a monthly basis CPI printed at +1.0% inline with forecasts.
The Producer Price Index rose 0.3% year-on-year in January, turns positive for the first time since January 2020.
Data however missed expected growth of 0.4% which could possibly be the reason for a muted reaction from the Australian dollar.
Major trend in the pair is bullish. 21-EMA is strong support at 0.7678. Break below will see dip till 55-EMA at 0.7590. Breach below 55-EMA could change near-term dynamics.
