AUDUSD Technical Analysis – We are back at the 2024 high ...Middle East

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AUDUSD Technical Analysis – We are back at the 2024 high
Fundamental OverviewSince last Friday, the USD has been mostly weak as Fed Chair Powell delivered a more dovish than expected speech at the Jackson Hole Symposium where he basically kept the door open for a 50 bps cut at the September meeting. In fact, the line saying that they will do everything they can to support a strong labour market was key. That pushed Treasury yields lower and weighed on the greenback across the board. In fact, the recent appreciation of the AUD has been mostly driven by the US Dollar side of the equation, but it outperformed its peers due to the hawkish RBA stance. Today, we got the monthly Australian CPI report where the data showed further easing in the underlying

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