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Commentary
We still see AUDUSD moving higher whilst the currency pair is above 0.786 despite US inflation data coming in stronger than expected yesterday.
The US core inflation rate YoY was 3% vs 2.3% forecast and the US inflation rate YoY was 4.2% vs 3.6% forecast causing AUDUSD to move lower.
However, whilst prices remain above 0.786 and there is no major shift in FED policy we expect the uptrend since Mar 20 to continue and prices to rise above 0.8.