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AUD/USD Price Analysis: On the verge to test a five-month high around 0.7060 ahead of Australian CPI

AUD/USD seeks cushion around 0.6500 as hawkish RBA bets soar
  • AUD/USD is aiming to print a fresh five-month high above 0.7060 ahead of Australian inflation.
  • The USD Index has found an intermediate cushion around 101.50, however, the downside bias is still solid.
  • A bullish momentum will be triggered after a jump by the RSI (14) into the bullish range of 60.00-80.00.

The AUD/USD pair is juggling in a narrow range above the crucial support of 0.7040 in the early Asian session. The Aussie asset is on . . .

Written by Paul Hough