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Jan 07 - 07:55 PM

AUD/USD - USD Strength Weighed Offshore - CPI Leads Event Risk

By Andrew Spencer  —  Jan 07 - 05:53 PM

• Steady early after closing down 0.23% with the USD up 0.35%

• Australian CPI, key for RBA policy will be the major event risk today

• RTRS poll shows the RBA preferred Weighted mean CPI Y/Y poll 2.2%

• Refinitiv AUDIRPR Q prices 26.21pts in RBA cuts for the April 1st meeting

• Charts: 21-day Bollinger bands contract, daily momentum studies climb

• Mixed 5, 10 & 21 DMAs - weekly moving averages fall - modest bearish setup

• 0.6170 2022 low a strong base - break would target 0.5980 April 2020 low

• Monday's 0.6302 high and Dec 16 0.6382 top are the first resistance
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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