Core Viewpoint - The Australian dollar (AUD) is experiencing narrow fluctuations around 0.6455 against the US dollar, influenced by rising inflation, the Reserve Bank of Australia's (RBA) cautious policy stance, and commodity price volatility [1][2]. Group 1: Economic Indicators - Australia's trimmed mean inflation rate rose to 3% in Q3, with the CPI increasing by 3.2% year-on-year, marking the highest level since Q2 2024 [1][2]. - The unemployment rate decreased to 4.3% in October, but wage growth remains high, prompting the RBA to maintain a cautious approach with the current cash rate at 3.6% [1]. Group 2: Market Sentiment - Market sentiment towards the AUD is mixed, with some institutions raising expectations due to persistent inflation, while others remain cautious due to global demand concerns [2]. - The AUD's movements are closely tied to commodity prices, particularly iron ore, which adds to the volatility [2]. Group 3: Technical Analysis - The AUD/USD is in a "triangle consolidation" phase, with a key support level at 0.6450 and a trading range focused on 0.6430-0.6480 [3]. - The upper resistance level is at 0.6500, and if breached, it could open further upward movement [3]. - Technical indicators show a neutral signal, with the MACD near the zero line and RSI at 52, indicating a balanced market with no clear direction [3].