- Aussie plummets after soft CPI print raised chances of a Nov rate cut by RBA to above 50%
- Headline inflation held at 1.5% in the Sept quarter, with the quarterly change in the CPI rising just 0.5%, below the 0.7% increase forecast by markets
- AUD/JPY breaks below daily cloud, downside stalled at 85.63 and the pair has edged slightly higher to trade at 85.75
- Immediate resistance is seen at 86.10 (hourly 10 MA), ahead of 86.17 (cloud top)
- Supports on the downside are located at 85.70 (daily kijun) and further below at 85.63 (session lows) and the 85.25 (trendline support)
- Techs indicate further downside, RSI and Stochs point South, breaks below 85.60 could see the pair at trendline support by 85.25
Resistance Levels:R1: 86.10 (hourly 10 MA)R2: 86.17 (cloud top)R3: 87.07 (55 EMA)Support Levels:S1: 85.70 (daily kijun) S2: 85.63 (session lows) S3: 85.25 (trendline support)
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