Australian Inflation

AUD/USD is drawing attention after Australian inflation eased less than expected, strengthening the case for a more hawkish interest rate outlook. Traders are now watching US Core PCE, Preliminary GDP and nearby technical levels that could decide whether the pair extends its advance or pulls back.

AUD/USD is wavering near 0.7062 after the Reserve Bank of Australia held rates at 4.35% and US inflation figures matched expectations. Technical traders are watching a doji candle, head-and-shoulders structure and rising wedge for signs of a possible move toward 0.7000 and 0.6950.

AUD/USD has climbed to its highest level since June 17 as markets reassess the outlook for Australian and US interest rates. Traders are watching whether RBA caution and softer US labor data can keep momentum pointed toward 0.7150.