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Jul 30 - 08:36 AM
AUD/USD - Eases To Fresh Five-Week Low Before Aussie CPI Data
First appeared on eFXplus on Jul 30 - 06:20 AM
  • AUD/USD hits 0.6887 (lowest level since June 20) after probing below 0.6891
  • 0.6891 was 76.4% Fibo of 0.6832 (June 18 low) to 0.7082 (July 19 high)
  • AUD weakness precedes Australian Q2 inflation data, due Wednesday 0130GMT
  • Sub-f/c CPI would be boost for doves advocating another RBA rate cut in Sept
  • RBA is expected to keep its cash rate at 1.0% next week (Aug 6)
  • 0.6895 (Monday low) is now a resistance level. Support 0.6880 (June 20 low)

AUDUSD: Click here

Aussie CPI data: Click here

Source:
Refinitiv IFR Research/Market Commentary

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