• Australian CPI surprised on the topside, weighted +4%y/y v's 3.8% expected

• Data suggest the RBA will probably keep interest rates higher for longer

• If the upcoming data comes in strong, a rate hike becomes a possibility

• AUD jumped 25pts on the CPI and is currently up 0.32% at 0.6669

• TECHS - 5, 10 & 21-day moving averages coil, 21-day Bollinger bands expand

• Daily momentum studies flat-line - the technical outlook in neutral

• Today's 0.6636 low then this week's 0.6627 base are initial support

• Last week's 0.6679 high and then the June 0.6704 top are first resistance

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