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Oct 10 - 07:55 PM

AUD/USD - Risk, Commodities Lead - Strong 0.6700/0.6810 Range

By Andrew M Spencer  —  Oct 10 - 07:05 PM
  • Off 0.05% after closing up 0.35%, supported by the stronger commodity prices

  • With no tier-one Australian data or RBA speeches, risk and the USD lead AUD

  • Asia may be cautious ahead of China's weekend fiscal policy details, CPI

  • Charts; daily momentum studies ease, with 5 and 10-day moving averages

  • 21-day Bollinger bands gently contract - overall a modest downside bias

  • 0.6716, 0.382% of the Aug-Sep rise and 55 DMA is proving resilient support

  • Major resistance at 0.6802/10 - high this week, 10 & 21-day moving averages

  • A close outside 0.6700 or 0.6810 tonight would likely extend next week

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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