• -0.15% with risk appetite as E-mini S&P futures trade down 0.4% early

• Inflation data is key upcoming event risk - headline poll 1.6 q/q, 7.5% y/y

• Trimmed mean is RBAs preferred measure - poll 1.5% q/q, 6.5% y/y

• Data to drive RBA expectations - RBAWATCH prices a 25pt 3.35% hike at 58.33%

• Charts; momentum studies and 21 day Bollinger bands head higher

• 5, 10 & 21 day moving averages climb - positive trending setup

• Targets a test of major resistance at 0.7091, 61.8% of the 2022 fall

• Sustained break of 0.6897 21 day moving average base would end topside bias

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