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Feb 06 - 11:55 PM

AUD/USD - Bid With Risk Appetite, As Stocks, Commodities Firm

By Andrew M Spencer  —  Feb 06 - 10:20 PM
  • +0.2% in a 0.6522-0.6540 range with moderate D3 flow, and the USD off 0.1%

  • Risk appetite resilient, AsiaxJP +0.65%, S&P/ASX 200 +0.6%, e-mini S&P +0.1%

  • No significant data today - the U.S. dollar and risk to lead AUD offshore

  • Charts; 5, 10 & 21 day moving averages fall with 21-day Bollinger bands

  • Daily momentum studies edge lower - the setup shows a strong downside bias

  • Sydney's 0.6522 low, then Tuesday's 0.6487 London base are initial supports

  • 0.6556 10-day moving average then 0.6587 21-DMA are first resistance

  • Close above well-tested 0.6587 21-DMA to suggest a period of consolidation

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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