AUD/USD bulls leaving the room? - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD pair closed the day in the red below the 0.7500 level, suggesting bulls are starting to give up on the Aussie.

Key Quotes:

"The release of Q2 inflation data earlier in the day diminished chances of a RBA rate cut in the near term, as trimmed CPI in the quarter came in at 1.7%, beating expectations of 1.5%. The news sent the pair briefly higher up to 0.7653, but the fact that pair was unable to hold on to gains supports the case for some further declines ahead. Dollar's temporal strength post-FED sent the pair down to 0.7420, adding to the bearish case."