AUD/USD rises to new maximums above 0.6500

• The AUD/USD extends the weekly advance, exceeding the level of 0.6530.
• The US dollar remains under pressure for economic data and the commercial agreement between the US and China.
• The US CPI fell below the consensus, increasing 2.4% year -on -year in May.

The upward trend in the Australian dollar (AUD) continues incessantly this week, with the AUD/USD advancing for the third consecutive day and reaching new annual peaks near the level of 0.6550.

Aud/USD sustained for the sale of USD and commercial optimism

The torque maintains its weekly recovery well running on Wednesday in response to additional pessimism that affects the dollar, while auspicious news on the commercial front also relieved concerns about a long commercial war.

In fact, the US dollar accelerated its losses after the US inflation figures showed that the CPI increased less than the initially estimated, 2.4% in the year until May. The underlying reading followed the same trend, being below expectations and increasing 2.8% compared to the previous year.

The weakest US data has led investors to accelerate their bets on a probable rate cut by the Federal Reserve at its September meeting.

Returning to commerce, US officials and China seem to have reached common land regarding rare earths in their meeting in London, although the agreement still needs the confirmation of both President Trump and Xi Jinping of China.

Soon in Australia

Given the lack of data publications in Australia on Wednesday, the attention of investors moves to the publication of inflation expectations of the Melbourne Institute on Thursday.

What about the technicians?

The AUD/USD is being negotiated in the lower area of ​​0.6500 and is expected to face initial resistance at the peak of the year until the date of 0.6545 (June 11), followed by the maximum of November 2024 of 0.6687 (November 7) and the maximum of 2024 of 0.6942 (September 30), all preceding the key obstacle of 0.7000.

On the other hand, the resumption of the bearish trend could cause an initial fall towards the 200 -day SMA critics in 0.6434, before the minimum of May, 0.6356 (May 12). The latter seems reinforced by the proximity of provisional containment in the SMAs of 55 days and 100 days in 0.6379 and 0.6342, respectively.

The RSI about 59 suggests that additional gains must be maintained on the short -term horizon, while the ADX above 26 is indicative of a moderate force of the trend.