AUDUSD cleared .7040 and traded to .7103. Which we last saw in June. We expect the AUD to show strength back towards those previous highs of .7280. On a break of .7180 over the coming week. As the appetite for risk assets returns following the better than expected US inflation data released this week. All eyes are now on the Fed Sept 21 interest rate move. Markets will be wanting another 75bp hike. Let’s see if the Fed alters its approach following the better the expected inflation print.
Current Level: 0.7100
Resistance: 0.7170/0.7235
Support: 0.6900/0.7000
Last Weeks Range: 0.6921/0.7129