* Bulls keep the reins with eyes on 0.7000 ahead of China CPI/PPI * A break of the 0.700 level could escalate the north-run to attack June month’s high of 0.7065.
Pandemic concerns are turning worrisome in Australia and abroad, the AUD/USD buyers remain in control against broading US dollar declines.
Traders might pause the run-up ahead of June month inflation data from the largest customer China. Forecasts suggest recoveries in the headline Consumer Price Index (CPI) data from 2.4% to 2.5% YoY whereas the Producer Price Index (PPI) is also expected to bounce off -3.7% to -3.2% on a yearly basis. Further, Australian Home Loans and Investment Lending for Homes, as well as weekly US Jobless Claims, are some other data that should be watched for immediate trade direction.
12 Hour Boost inicator signalling the possible waking of the AUDUSD bulls.