AUD/USD chart - Trading View
AUD/USD was trading 0.13% lower on the day at 0.7288 at around 04:10 GMT, after closing 0.29% lower in the previous session.
The pair is slipping lower for the second straight session as the Australian dollar remains under pressure on disappointing Wage Price Index data.
Australia's Wage Price Index rose 0.1% quarter-on-quarter in the third quarter, missing the forecast for a steady 0.2% growth.
In annualized terms Wage Price Index rose 1.4% , marking a slowdown from the preceding quarter's 1.8% rise and narrowly missing the forecast for 1.5%.
Renewed coronavirus concerns weigh over risk sentiment weighing on the risky currencies and dragging the pair lower.
Technical bias for the pair remains bullish. The pair finds major supports at 200W MA (0.7238) and daily cloud (0.7209).
Bounce off daily cloud will see resumption of upside. Scope for gains till 78.6% Fib at 0.7573. On the flipside, break below cloud will negate further bullishness.
