• AUD/USD rallies to 0.6407 high after AU inflation surprised to topside

• Trimmed mean CPI 2.9% y/y (poll 2.8%); uncertainties remain on May OCR cut

• 2.9% may not satisfy RBA's test of 'sustainably within' the 2-3% band

• Global growth concern supports case for 25bp cut, 50bps likely off the table

• Tariff vagaries weigh on USD, but AUD needs catalyst to break 0.6462 200-DMA

• U.S. GDP & consumption data due Wed, payrolls Fri (tariff-day impacted)

• Range Asia 0.6377-0.6407, support 0.6355 0.6180, resistance 0.6462 0.6550
AUD Daily 200-DMA


AUD Hourly Bollinger Study

(James Connell is a Reuters market analyst. The views expressed are his own.)