Australia’s treasurer Chalmers: Inflation data a promising result

Australia/s treasurer Chalmers is speaking after the CPI data and says:

• Inflation data a promising result
• However we are not complacent because we know that people are still under pressure

The AUDUSD moved higher after the reading came in higher than the expectations of 3.4% (was 3.5%), but the high price of 0.68124 could not extend to the 61.8% retracement of the move down from the 2023 high of 0.6818.

The price is currently trading at 0.6798 which was the high from last Friday and again on Monday. Will the buyers keep the momentum going, or will the break higher fail?

This article was written by Greg Michalowski at www.forexlive.com.