Intraday bias in AUD/USD stays neutral at this point. On the downside, firm break of 0.6964 support will indicate rejection by 38.2% retracement of 0.7277 to 0.6864 at 0.7022. Deeper fall should be seen to retest 0.6864 low. Meanwhile, sustained break of 0.7022 will suggest that fall from 0.7277 has completed and 0.6864, and target […]
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TL;DR: Australia’s soft CPI print has pushed all four major banks into agreement that the RBA’s tightening cycle is over for now, driving AUD/USD below its rising channel with 0.6750 emerging as the next major Read more…
Downside surprise on inflation removes case for rate hike in August. Downbeat narrative on supply in question. We no longer expect rate hikes by the RBA this year. Inflation has been more benign than we Read more…