AUD/USD: Takes out 50% retracement level after CPI data, now focusing on 200-DMA
The higher than expected domestic inflation data has further strengthened opinion that the rate-cutting cycle is now over. AUD/USD has taken out the 50% Fibo at .9715 and is testing its 200-DMA near .9750.
AUD/JPY is looking stronger by the minute and seems set to test 100 in coming weeks (AUD/USD at 1.0000 and USD/JPY at 100.00 perhaps?).