AUD/USD opens -0.72% after dramatic reversal from a post-Aus CPI at 0.6400

US yields soared after a messy 5-year Treasury auction exposed weak demand

Rise in US yields sent USD broadly higher and forced AUD/USD longs to cover

The end result for the AUD/USD was a bearish outside day reversal

Resistance at the 55-day MA (0.6401) verified by the price action

AUD/USD sitting just above key support at 0.6285/0.6300

It has based in that window 7 times in past 15 trading days

A break below 0.6275 targets the 2022 trend low at 0.6170

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