AUDUSD analysis at the beginning of the week

Hello dear traders. AUD/USD holds above the 0.6400 area during the Asian session on Monday. The rise in the Aussie (AUD) was supported by weakness in the US dollar and easing fears of Chinese deflation. The pair is currently trading near 0.6425, up 0.75% on the day.
Upbeat US economic data last week supported the longer-term higher US interest rate narrative. This, in turn, could lift the US Dollar (USD) and limit AUD/USD's upside.

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Investors were cheered by better-than-expected Chinese inflation data released over the weekend, which showed consumer price inflation rose back into positive territory during the month and bolstered hopes of a recovery. economic stability.