The US inflation figures could shake the markets and could bring new opportunities. AUD/USD maintains a bearish bias as long as it stays within the descending pitchfork’s body. Breaking down from the current range could signal further downside movement. The AUD/USD price dropped after yesterday’s minor rebound as the Dollar Index stays higher. The outlook is bearish, so it could resume its decline anytime. Its located deep in the seller’s territory, so further drop is favored. –Are you interested to learn more about forex bonuses? Check our detailed guide- Still, we’ll have to wait for the US inflation data to come out before deciding the next move. The CPI, Consumer Price Index, is expected to register a 0.5% growth in July versus 0.9% in June, while the Core CPI is expected to increase by 0.4% compared to the 0.9% growth in June. More than expected, the inflation growth may help the USD increase as the Federal Reserve could be forced to hike rates in its upcoming meetings. Worse than expected figures could weaken the greenback, which could depreciate versus its rivals. The Aussie has slipped lower as the Australian Westpac Consumer Sentiment dropped by 4.4% in August versus 1.5% growth in July. Get FREE Forex Signals Now! AUD/USD price technical analysis: More fall to follow-through AUD/USD 4-hour price chart The AUD/USD price is located below the descending pitchfork’s median line (ML). The outlook is bearish after escaping from the ascending channel pattern. Technically, it’s still trapped within a range pattern. After several false breakouts above 0.7413, the AUD/USD pair has turned to the downside again. Personally, I’m expecting to see sharp movements later. A valid breakdown below 0.73 and below 0.7289 may signal further decline. –Are you interested to learn more about crypto signals? Check our detailed guide- On the other hand, a valid breakout above 0.7369 could signal that the short term’s AUD/USD price could increase. A larger upwards movement could be signaled and validated by an upside breakout from this range. The upside 50% Fibonacci line of the descending pitchfork is seen as a dynamic resistance. The target’s major downside support is seen at the descending pitchfork’s lower median line (LML). From the technical point of view, the AUD/USD pair could develop an upside reversal only if it makes a valid breakout above the upper median line (UML). Unfortunately, this scenario is far from being achieved, so the bearish bias remains intact. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal AUD/USD Daily Outlooks share Read Next USD/CAD Analysis: Crude Oil and US CPI Pushing Under 1.2500 Saqib Iqbal 1 year The US inflation figures could shake the markets and could bring new opportunities. AUD/USD maintains a bearish bias as long as it stays within the descending pitchfork's body. Breaking down from the current range could signal further downside movement. The AUD/USD price dropped after yesterday's minor rebound as the Dollar Index stays higher. The outlook is bearish, so it could resume its decline anytime. Its located deep in the seller's territory, so further drop is favored. –Are you interested to learn more about forex bonuses? Check our detailed guide- Still, we'll have to wait for the US inflation data to come… 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.