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Australian Dollar Capped By Resistance Ahead of Q3 Inflation Data – DailyFX
The AUD/USD exchange rate appears to be struggling to overcome key chart resistance ahead of Q3 inflation data as the RBA hints at further easing.
Australian Dollar, Reserve Bank of Australia, Melbourne Lockdown, Coronavirus, Inflation Talking Points:
- The planned easing of Covid-19 restrictions in Melbourne, Australias second largest city, may buoy regional risk sentiment.
- The RBAs dovish stance could cap the Australian Dollars upside.
- AUD/USD rates continue to consolidate in Symmetrical Triangle above key support.
Falling Covid-19 Cases to Buoy Regional Sentiment
A significant easing of restrictions in Victoria looks likely in the coming days…
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