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