AUD/USD slides to 0.6230 on weak consumer confidence ahead of US CPI

AUD/USD declined 0.5% to 0.6230 in early Asian trading as disappointing Australian consumer confidence data weighed on the Aussie dollar. The Westpac Consumer Sentiment Index plummeted 5.2% in January, marking the steepest drop in six months and reflecting growing economic concerns. The pair remains under pressure near three-week lows, with traders positioning defensively ahead of Wednesday's crucial US CPI data, expected to show core inflation at 3.3% year-over-year. RBA's relatively hawkish stance provides limited support, but risk sentiment deterioration and China growth concerns continue pressuring AUD. Technical analysis shows immediate resistance at 0.6280 (Friday's high), while support lies at 0.6200 psychological level. A break below could accelerate losses toward 0.6150. Market positioning suggests further downside risks if US inflation surprises to the upside, potentially strengthening USD across the board.