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Jan 29 - 12:12 AM

AUD/USD - Risk Rebound Provides A Base, But No Bounce Yet

By Andrew M Spencer  —  Jan 28 - 10:05 PM
  • Flat in a 0.6755/0.6773 range, with solid interest all day in Asia

  • CPI just beat expectations, suggesting the RBA will remain on hold Feb 4

  • Eikon RBAWATCH priced an RBA cut at around 20% pre CPI and now 12%

  • RBA likely on hold leaves the virus, risk and USD in the driving seat

  • Bounce in stocks has not been reflected in the AUD, downside the weak one

  • Charts, momentum studies, 5, 10 & 21 DMAs track south - bearish setup

  • Sustained break of yesterday's 0.6737 low would target 0.6670 2019 low

  • Close above 0.6791, 61.8% of this week's fall & 5 DMA to end downside bias

aud 3 jan 29 Click here

Source:
Refinitiv IFR Research/Market Commentary

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