Enter your emailThe pair will likely continue rising as buyers target the next key resistance point at 0.7200.Timeline: 1-2 days.soared to the highest level since June 10th of this year after the latest American consumer inflation data.Trade AUD/USD NowThe AUD/USD price jumped sharply after the US consumer inflation data. According to the Bureau of Labor Statistics , the headline CPI dropped from 1.3% to 0.0% in July. This decline translated to a year-on-year increase of 8.
Inflation dropped because of the falling oil prices. Brent and West Texas Intermediate has dropped from the year-to-date high of over $135 to below $100. At the same time, gasoline prices declined from the year-to-date high of $5 to a low of $4.
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