AUDUSD Technical Analysis – The price action remains rangebound ...Middle East

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AUDUSD Technical Analysis – The price action remains rangebound
Fundamental OverviewThe USD started the week on the backfoot as the new month begins. The last week’s strength might have been influenced more by quarter-end flows rather than something fundamental as the economic data didn’t change interest rates expectations. Nonetheless, the data should continue to support the risk sentiment amid a pickup in growth without inflationary pressures. The AUD, on the other hand, should be favoured in such environment as it’s also backed by a slightly more hawkish RBA. Last week, the Aussie got a boost from another hot monthly CPI report which raised the chances of a rate hike, although RBA’s Hauser poured some cold water on the expectations as he would rather

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