The German DAX remains in sideways consolidation amid low August volumes, with 24,500 as key resistance and 23,500 as major support for the next breakout.

The Australian Dollar (AUD) showed a positive reaction on Tuesday, prompting AUD/USD to reclaim the 0.6500 hurdle and beyond on the back of the resumption of the selling bias in the US Dollar (USD).

The EUR/USD pair traded in a tight range just above the 1.1600 mark throughout the first half of the day, with the US Dollar (USD) retaining its Monday gains but struggling to advance ahead of first-tier data releases.

GBP/USD closed marginally lower on Monday and snapped a six-day winning streak. In the European session on Tuesday, the pair regains its traction and trades above 1.3450 as market focus shifts to US inflation data.

The AUD/USD pair attracts fresh sellers near the 0.6525 region and turns lower for the third straight day on Tuesday in reaction to the Reserve Bank of Australia’s (RBA) dovish outlook.

EUR/USD moves sideways slightly above 1.1600 after closing marginally lower on Monday. As investors await July Consumer Price Index (CPI) data from the US, the pair’s near-term technical outlook highlights a neutral stance.