AUDUSD Shows Resumption Of A Bearish Trend

US CPI came out better than expected last week at 5.0%, so we have seen some USD weakness at the start of the week, but then some of the losses got erased on Friday, after FED officials said that there is room for another interest rate hike. Metals also came down, and put some bearish pressure on Aussie as well.

The pair has a sharp drop from 0.6805 which suggests that the pair will see more weakness ahead as A-B- C correction can be finished.