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AUDUSD Bulls Could Resume From A Valid Rectangle Pattern Breakout

2025-01-01VSTARVSTAR
AUDUSD Bulls Could Resume From A Valid Rectangle Pattern Breakout

The AUDUSD maintains the buying pressure in the intraday chart, initially driven by May's hotter Australian CPI data.

Australian CPI Remains Hot

The Australian CPI indicated that consumers are having price pressures at a 4.0% rate, which surpassed the previous release's rate of 3.6% and the estimated 3.8%. The CPI report indicated that the high fuel, food, electricity, and rent prices might exacerbate the inflationary pressures.

The Reserve Bank of Australia (RBA) has expected additional rate increases due to Australia's persistently high inflation data. The Reserve Bank of Australia (RBA) has maintained its Official Cash Rate (OCR) for the past eight months at 4.35%.

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