• AUD opens near flat to kick off NY session. Ranges narrow but trend higher is intact

• RBA minutes - board discussed Aug rate hike, reiterated readiness to act if necessary

• AU CPI due Wed, little priced in AU rates, suggests limited room for a dovish repricing

• Initial support at the 200-hour MAs (0.7113-20), which has guided the trend higher since July

• Topside objectives remain unchanged at 0.7200 and the year-to-date high at 0.7277

• Related comment:
AUDUSD hourly chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))