FXStreet (Guatemala) – Analysts, in respect to AUD/USD, explained that consumer prices rose at a mild pace last month in Australia, adding to recent data which suggests inflationary pressures have eased in recent months, putting greater pressure on policymakers to revive inflation.
Key Quotes:
“The price of an average basket of consumer goods rose 0.1% m/m in October, after showing no change the month before. The price gauge was up at a steady rate of 1.8% y/y last month.
It is getting increasingly likely that last week’s high near 0.7283 is the extent of the current bullish phase (target at 0.7290/95 not met). Unless there is rapid recovery above 0.7240/45 in the next 1 to 2 days, a move below 0.7170 would indicate that the start of neutral consolidation phase (likely holding between 0.7100 and 0.7280).”
(Market News Provided by FXstreet)