- Aussie under fresh selling pressure after poor NAB's business confidence data.
- Upbeat China CPI data ignored. China’s consumer price inflation accelerated, but at its weakest pace in six months.
- AUD/JPY off Monday's high, hovers around 50-DMA at 78.09, weakness likely on break below.
- Pair is holding minor support at 78.03, break below could drag the pair to next major support at 77.62.
- Upside finds resistance at 78.61 (20-DMA), 78.67 (Aug 8 high) and 79.15 (July 28 high).
- Close above 78.61 required for upside to resume.
Recommendation: Go short on break below 78.00, SL: 78.60, TP: 77.62
