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AUD/USD eyes key daily support, setting the stage for potential moves.

AUDUSD was down on Wednesday after testing the high level of 0.6584 in the last trading session as The Australian dollar held its recent decline to around $0.655 on Wednesday, hovering at its lowest levels since early August as investors reacted to softer-than-expected inflation figures. Australia’s annual inflation rate slowed to 2.8% in the third quarter, down from 3.8% in the previous quarter, and came in slightly below forecasts of 2.9%. This puts inflation back within the Reserve Bank of Australia’s target range of 2%-3%. Both quarterly and monthly inflation figures also declined more than anticipated.