Research preview

Risk And Invalidation Risk remains level-led. The invalidation level matters more than the headline bias; reduce size around data releases and avoid treating the first reaction as confirmation without a retest. AUDUSD News And Catalyst Brief The news tape is giving a clearer macro cue around central-bank policy. AUDUSD has a balanced headline read, with central-bank expectations setting the volatility backdrop. Final bias: neutral until price accepts a level outside the current pivot range. The next test is whether candles and pivots accept that story or fade it after the first reaction. DOLLAR/YEN STEADIES, DOWN 0.08% AT 159.20 AS BOJ'S HIMINO COMMENTS … AUSTRALIA PRIVATE CAPITAL EXPENDITURE (Q/Q) Q2: -3.6%...