The US Dollar is on the back foot and hotter Australian inflation data released earlier has pushed up the Aussie as markets see a more hawkish rate path.

The US dollar fell against the yen on Tuesday amid Fed cut speculation, but strong support near ¥155 and a wide rate gap suggest the dip remains a buying opportunity.

The New Zealand dollar tested support near 0.56 on Tuesday but remains a weak performer against the US dollar, with resistance at 0.57 reinforcing the bearish trend.

The British Pound rallied against the Swiss franc on Tuesday as SNB resistance to franc strength lifted GBP/CHF above key technical levels, hinting at a potential bottom.

The euro rallied Tuesday on growing Fed rate cut expectations, but technical resistance near 1.17 and support at 1.14 suggest the EUR/USD remains vulnerable to reversals.

EUR/USD continues to edge higher toward 1.1600 after posting gains on Tuesday and trades at a fresh weekly high. The technical outlook points to a bullish tilt in the short-term outlook.