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Jan 28 - 11:55 PM

AUD/USD - Soft - USD Firms And Stocks Slip - 0.7500 Beckons

By Andrew M Spencer  —  Jan 28 - 10:22 PM
  • Trades -0.2%, at the base of a 0.7658-0.7682 range with consistent flows

  • USD firmer, as risk sours, E-mini S&P -0.6%, Nikkei-0.2% but AsiaxJP +0.1%

  • Risk appetite and the USD have led this week, which will likely extend

  • Techs; momentum studies, 5, 10 & 21 DMAs head lower - negative setup

  • 21 day Bollinger bands expand, leaving room for a trending move lower

  • Chart suggests a move towards 0.7502, 38.2% Nov-Jan rise is viable next week

  • Close above 0.7723 21 daily moving average would end the downside bias

  • London 0.7592 low and Asian 0.7682 high is initial support and resistance

For more click on FXBUZ


aud 2 jan 29 Click here

Source:
Refinitiv IFR Research/Market Commentary

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