AUD/USD outlook: Australian Dollar slides on softer than expected inflation
Pound-Australian Dollar could struggle to extend gains unless the Bank of England strikes a hawkish tone, while Australian inflation may revive RBA rate hike bets. The Pound to Australian Dollar (GBP/AUD) exchange rate edged higher on Tuesday as mixed comments from Reserve Bank of Australia Governor Michele Bullock weighed on the.
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 support cluster.
The Australian dollar is trading on the back foot after a sharp selloff in Asian technology stocks dented risk appetite and dragged regional currencies lower.
TL;DR: RBA Governor Michele Bullock has reframed Wednesday's Q2 CPI report — the question isn't whether core inflation is elevated, but whether it's hot enough above 3.8% to justify an August RBA hike, with AUD/USD stalled at resistance ahead of the release.
AUD/USD Price Forecast: Slides to 0.6970 after failing to clear 38.2% Fibo. hurdle
AUD/USD Price Forecast: Consolidates near 0.7000 as bulls await 38.2% Fibo. breakout
AUD/USD enters a pivotal week with the Federal Reserve meeting and Australia's quarterly CPI set to drive the next major move. While the Australian dollar has recovered over the past three weeks, expectations for another RBA rate hike, renewed Middle East tensions and the outlook for the US dollar could determine whether the rally extends or begins to fade.
AUD/USD Price Forecast: Surging US bond yields warrant downside
AUD/USD Price Forecast: Bulls struggle below the 50-day SMA
The AUD/USD is seeing a cap on its medium-term uptrend move as geopolitical tensions escalate further along the Strait of Hormuz.
AUDUSD (Australian dollar) finds psychological support The AUDUSD (Australian dollar) hopes to stop the reversal after finding crucial support at the 0.7000 zone. Overall, the pair remains bullish to hit a higher high if prices remain above the said support.