Australian dollar surrenders gains from stronger CPI data earlier | Forexlive
Evidently, not even improved odds of a RBA rate hike can turn the tide in negative sentiment in the aussie currently. AUD/USD was up to a high near 0.6400 in Asia but has turned flat now to 0.6357 and erasing all of the jump after the CPI data earlier today.
AUD/USD 5 mins chart
The downside channel as highlighted here earlier is still keeping sellers interested, even with RBA rate hike odds for next month sitting at ~58% currently.