AUD/USD recovers its losses after dropping toward 0.7100. USD’s market valuation continues to drive the pair’s action. Conference Board’s Consumer Confidence data from US will be watched closely. The AUD/USD pair gained more than 50 pips on Monday but struggled to preserve its bullish momentum on Tuesday. After slumping to a daily low of 0.7114 during the European trading hours, however, the pair staged a rebound and turned flat on the day at 0.7150. Eyes on Australian inflation data, FOMC The USD’s market valuation continue to impact AUD/USD movements on Tuesday. The US Dollar Index (DXY), which lost 0.75% and posted its lowest daily close in nearly two years at 94.65 on Monday, rose to 94.00 on Tuesday. Nevertheless, the lack of fundamental drivers behind that rebound suggests that it’s a technical correction and could remain shallow. In fact, the DXY is now up only 0.08% on the day at 93.73. Later in the session, the Conference Board’s Consumer Confidence data will be looked upon for fresh impetus. More importantly, investors will be waiting for the FOMC to conclude its two-day meeting and release its policy statement on Wednesday. On the other hand, the Australian Bureau of Statistics’ inflation report will be published during the Asian session on Wednesday. Markets expect the annual Consumer Price Index (CPI) to fall fo -0.4% in the second quarter of the year. A lower-than-expected reading could weigh on the AUD and cause the pair to target below 0.7100. Technical levels to watch for FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: S&P/Case-Shiller Home Price Index rises 3.7% in May vs. 4% expected FX Street 3 years AUD/USD recovers its losses after dropping toward 0.7100. USD's market valuation continues to drive the pair's action. Conference Board's Consumer Confidence data from US will be watched closely. The AUD/USD pair gained more than 50 pips on Monday but struggled to preserve its bullish momentum on Tuesday. After slumping to a daily low of 0.7114 during the European trading hours, however, the pair staged a rebound and turned flat on the day at 0.7150. Eyes on Australian inflation data, FOMC The USD's market valuation continue to impact AUD/USD movements on Tuesday. The US Dollar Index (DXY), which lost 0.75% and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.