AUD Supported by China DataAUSTRALIAN DOLLAR / THAI BAHTFX_IDC:AUDTHBYES_GroupMarket Analysis: The Aussie dollar received positive underlying support from Australian housing data, where April Home Loans contracted by -3.4%, showing an improvement from the previous month’s -10.5%. Concurrently, Investment Housing Loans grew by 10.2% YoY, and Private Sector House Approvals contracted by -1.0% as expected, indicating that the housing sector remains stable and is not deteriorating further. Additionally, China—Australia’s largest trading partner—reported May CPI at 1.2% YoY, matching expectations, while PPI expanded by 3.9%, beating the previous 2.8%. This reflects robust manufacturing price pressures and strong economic activity in China, which serves as a positive driver for the AUD through commodity export prospects. Nevertheless, the ultimate direction for AUDTHB today hinges on the U.S. CPI release. A hotter inflation print will supercharge the USD, capping the Aussie’s upside, whereas a softer CPI print will allow AUD to capitalize on its positive domestic and Chinese fundamental backdrops. Technical Outlook: On the 4-hour timeframe (4H), the broader trend is still characterized as a downtrend. However, in the short term, the price has initiated a rebound to trade back above the EMA lines following a wave of buying pressure around the 23.10 area. The MACD has also begun to cross upward, showing a return of buying momentum. If the afternoon session of the SET index opens in the red, it could provide a short-term lift to the AUD, supporting a move for AUDTHB to test the resistance zone at 23.18 – 23.20. In terms of risk, because the overarching structure remains a downtrend, there is still a significant chance for the price to slip back below the EMA lines. If the Thai stock market opens positive in the afternoon, it may pressure AUDTHB to slide down to test the support zone at 23.11 – 23.08. Support Level : 23.11 – 23.08 Target : 23.18 – 23.20 Stop Loss : 23.07