• GBP/AUD edged higher on Thursday as investors digested a U.S. inflation reading that largely met expectations.
• U.S. inflation data on Thursday broke 4% annually for the first time in three years as the Middle East conflict boosted energy prices, but the monthly reading was slightly below expectations, helping to push yields lower.
• Oil prices edged higher but were still near levels last seen before the start of the U.S.-Israeli war with Iran, as expectations of rising supply from the Middle East outweighed demand concerns.
• Investors will closely monitor comments from RBA Governor Michele Bullock during a panel discussion in Switzerland late Sunday, followed by remarks from Assistant Governor Christopher Kent in Sydney early Monday.
• Immediate resistance is located at 1.9204(Higher BB), any close above will push the pair towards 1.9277(61.8% fib).
• Strong support is seen at 1.9054(50% fib) and break below could take the pair towards 1.8948(SMA 20).
Recommendation: Good to buy around 1.9050, with stop loss of 1.9000, and target price of 1.9120,
