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AUD/USD last $0.7266 after the rate failed...>

AUSSIE
AUSSIE: AUD/USD last $0.7266 after the rate failed above $0.7300 on Thursday,
following a couple of attempts at the figure earlier in the week. The Sep 26
high is placed behind at $0.7315, a move above here and bulls' focus will turn
to the $0.7400 congestion zone. Bears need a break back below the 50-DMA at
$0.7160 to test broken down trendline resistance-turned-support from the Feb
highs, which comes in at $0.7150.
- Focus today falls on the RBA's SoMP. Participants likely to look to the RBA's
latest CPI forecast in its SoMP, after the Bank noted that the central scenario
is for inflation to be 2.25 per cent in 2019 and a bit higher in the following
year" in the statement that accompanied its latest MonPol decision. N.B. The
Bank's most recent SoMP had end of 2020 projections of 2.25% for both CPI and
underlying inflation.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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