AUD/USD trapped in technical squeeze as inflation cools. Australia's annual CPI declined to 3.7% in February 2026, still above the Reserve Bank of Australia's target range, keeping rate hike expectations alive. The currency pair remains coiled between 0.6980 and 0.7070, struggling below the psychological 0.7000 level. Market participants are cautious as traders await clearer directional signals. Key support sits at 0.6980 where a sustained bearish candle close would signal weakness, while a bullish breakout above 0.7070 could trigger upside momentum. Near-term price action will be heavily influenced by US Dollar strength and broader geopolitical developments that could shift risk sentiment across markets.
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