AUDUSD had been in a steady advance since the beginning of April, posting a fresh one-month high of 0.6643 on Tuesday. However, the pair experienced a strong decline and erased all its progress following a stronger-than-expected US inflation report on Wednesday. Should the price extend its recent slide, the recent support of 0.6479, which also held strong in February and March, could act as the first line of defence. A violation of that territory could pave the way for the 2024 bottom of 0.6441. Dropping beneath that floor, the pair may descend towards the August 2023 low of 0.6363. On the flipside, if the pair finds ... (full story)