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AUDUSD ping-pongs between moving averages. What would break the stalemate?
The AUDUSD got a lift in Asian trading as Australia’s inflation data and hawkish comments from RBA Governor Michele Bullock gave buyers a reason to push higher. September headline inflation rose to 4.3% from 4.0%, while Bullock warned that inflation was likely to run above the RBA’s August forecasts. The combination kept the prospect of another rate hike firmly in play. The AUDUSD initiallly moved to the upside on the fundamental news. However after reaching a key technical MA target, the momentum higher reversed back lower and toward a downside MA target. That has helped set the guardrails fo
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