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The Australian Dollar is edging higher on Wednesday as investors shrugged-off stronger-than-expected U.S. Consumer Inflation data. The news, which was likely priced-in for weeks, failed to rattle investors, sending Treasury yields lower and undermining the U.S. Dollar.
In other news, the Westpac Consumer Sentiment Index surged to an 11-year peak in April, defying worries about the government’s vaccine rollout. That followed a strong survey of businesses out on Tuesday.
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At 07:55 GMT, the AUD/USD is trading .7657, up 0.0031 or +0.40%.
Daily AUD/USD
Daily Swing Chart Technical Analysis
The main trend is up according to the daily swing chart. The trade through .7677 reaffirmed the uptrend. A move through .7586 will change the main trend to down.