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May 28 - 11:55 PM

AUD/USD - Recovers Ground On Higher Than Expected CPI

By Krishna K  —  May 28 - 10:05 PM
  • AUD/USD races to 0.6665 day high on higher-than-expected April CPI

  • AU April CPI rises to 5-month high of 3.6% vs.3.4% expected

  • RBA rate expectations pushed back as inflation remains sticky

  • First easing now not fully priced in until Sep 2025; was July earlier

  • AUD fails to hold gains but downside limited; support 0.6625-30, 0.6600-05

  • Resistance 0.6680-85, 0.6710-15; Asia range 0.6636-0.6665

  • A broad 0.6550-0.6750 range forms as Fed, RBA maintain status quo on rates

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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