According to the TDMI’s report the inflation pressure was less intense in August. It declined by 0.1% after a 0.3% increase a month before.
It happened mainly due to lower prices on fruit and vegetables. However, autos, furniture and services became a little costlier.
The Reserve Bank of Australia is going to leave the key interest rate unchanged on the inflation decline.
FOREX.
AUDUSD keeps rallying in mid-term perspective. However, the experts of the Department of Masterforex-V trading system warn that after breaking below the bullish sloping channel the currency pair formed a potentially reversal downswing of the wave level higher than H4. Another rally is possible in the form of the “Hound of the Baskervilles” pattern by Elder/MF.
The closest level of resistance is 1,0764 – last week’s high. If the scenario fails, the price will create a “moment of truth” and a FZR, thus allowing AUDUSD to keep retracing in the form of the classic ABC pattern.
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