- AUD/USD refreshes three-day low ahead of China CPI/PPI data.
- 21-day EMA, three-week-old support line and 50-day EMA are on sellers’ radars.
- Buyers will look for entries beyond April 30 top.
AUD/USD drops to 0.6435, down 0.81% on a day, during Tuesday’s Asian session. That said, the pair traders await China’s headline inflation figures while nearing the short-term key supports.
Among them, a confluence of 21-day EMA and an ascending trend line from April 21, near 0.6410/05, seems to be the first in limiting the pair’s further downside.
Should sellers dominate below 0.6405, 50-day EMA near 0.6390 offers another challenge to them before diverting the moves toward late-April low near 0.6250.
Alternatively, April 30 high close to 0.6570 acts as the immediate key resistance for the buyers to watch, a break of which could escalate the recovery moves towards March month high near 0.6690.
AUD/USD daily chart
Trend: Pullback expected
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