Technical analysis

AUD/USD: The 0.70 Breakout Was a Fakeout. Two Punches, CPI and Jobs

AUD/USD broke above 0.70, then a hot US CPI and a shock Australian jobs report (−39.3K vs +19.6K expected, unemployment 4.7%) pushed it to a three-month low. What the failed breakout leaves on the chart, and the data that matter next week: China Q3 GDP and the RBA on 3 November.