AUD/USD has inched higher as a softer feel...>

AUSSIE: AUD/USD has inched higher as a softer feel remains with the greenback in

the wake of Wednesday's congressional testimony from Fed Chair Powell. The rate

last trades at $0.6966, 7 pips higher.

- The Aussie struggled somewhat in Wednesday's Asia-Pac hours as Westpac

consumer confidence index declined by 4.1% M/M to the lowest level since Aug

2017, while Chinese inflation proved more sluggish than expected.

- AUD weakness allowed the pair to have a look below its trendline support at

$0.6917 before it shot higher as Powell's remarks were widely read as dovish,

reinforcing expectations for a Fed cut in July.

- Bulls look to take out the 100-HMA, which limits gains at typing. Above opens

the 200-HMA at $0.6985. Bears target the $0.6953-50 zone, which hosts the

mid-point of the YtD range, cloud base, 21-DMA and 50-DMA. A dip below these

levels would again expose the trendline support, today at $0.6912.

- Consumer inflation expectations and housing finance data are expected in

Australia today. RBA Dep Gov Debelle will speak in the London morning.