• Weighted CPI, a key component for the RBA rate decision 2.1%, poll +2.3%

• 0#AUDIRPR prices a 25pt July RBA cut at 81.7% pre CPI 86.44% post

• Muted AUD response - dipped 10-pts to 0.6489 and then bounced to 0.6504

• CPI data was softer across the board, increasing RBA cut expectations

• Modest moves elsewhere, E-mini S&P flat, Brent oil +1.25%, gold +0.1%

• Charts, 5, 10 & 21-day moving averages conflict, momentum studies climb

• 21-day Bollinger bands contract - neutral signals at familiar levels

• 0.6427 lower 21-day Bolli band, then Monday's 0.6373 low, first support

• Yesterday's 0.6519 high, then 0.6552 June, and 2025 top first resistance
Andy

(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)