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Abel

06/24 06:01

FxWirePro: AUD/USD eases after Australian mixed CPI data - EconoTimes

• AUD/USD eased on Wednesday as investors digested a mixed Australian inflation report.• Australian consumer prices fell in May due to lower fuel and travel costs, but stronger-than-expected core inflation kept the possibility of another RBA rate hike alive.• Australian CPI fell 0.7% in May from April, while annual inflation slowed to 4.0% from 4.2%, according to ABS data. Both readings came in below forecasts for a 0.4% monthly decline and 4.3% annual inflation..• The trimmed mean measure of core inflation increased by 0.4% in the month, above forecasts of 0.3%, pushing the annual pace up to 3.6%.The Reserve Bank of Australia has hiked rates three times this year in an effort to get core inflation back into its target band of 2% to 3%.•  Immediate resistance is located at 0.6969(50%fib), any close above will push the pair towards 0.7000(Daily high).

•  Support is seen at 0.6891(Lower BB) and break below could take the pair towards 0.6841(61.8%fib).

 Recommendation: Good to sell  around 0.6950with stop loss of 0.7000 and target price of 0.6880Gold is meant to be a ‘safe haven’ in uncertain times. Why is it crashing amid a war?Wall Street Slides as Iran War Uncertainty, Oil Surge, and AI Fears Rattle MarketsSpaceX IPO Filing Expected This Week as Valuation Could Surpass $75 BillionStagflation Shadows: U.S. Manufacturing Shines as Services Slump to 11-Month LowScarcity and Strife: Bitcoin Hits Historic Milestone Amid Geopolitical TremorsStrategy's Multi-Billion Dollar Bitcoin Accumulation: A 2026 Milestone
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