AUD/USD testing 0.8800

FXStreet (Córdoba) - AUD/USD erased losses and currently is testing the 0.8800 area, ahead of US inflation data. Recently printed a fresh daily high at 0.8802, but it has been unable so far to rally above.

During the Asian session, after the release of the Australian CPI report of the third quarter, AUD/USD bottomed at 0.8741 but rebounded. The recovery from the lows was capped by 0.8800.

A consolidation above the mentioned level could boost the pair to the upside. Resistance on top might lie at 0.8830 (October 21 high) and above here at 0.8860 (Oct 15 high).