AUDUSD Outlook - Forexsites

From the FXWW Chatroom: AUDUSD: 0.7450 is the 50% retracement of the Dec/Mar rally, but the pair is already in jeapordy of breaking the 0.7485 triple bottom area. A candlestick close below those levels should lead to further selling. Big gap to fill down low, with room still on the RSI daily. https://www.tradingview.com/x/CHN2jss7/

AUD CPI data slightly disappointed versus expectations. In the core trimmed mean measure, the 1.8% y/y reading slightly undershot expectations of 1.9% and the RBA’s own lower-bound target of 2%. In terms of components, automotive fuel drove index gains, while household equipment, furnishings and services fell. Weakness in domestic non-regulated price components is likely to keep the RBA cautious about demand, but should not significantly shift the RBA’s current policy inertia either way.

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