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Jan 16 - 10:55 PM

AUD/USD - Steady As FX Markets Consolidate This Week's Fall

By Andrew M Spencer  —  Jan 16 - 10:10 PM
  • Little changed in a tight 0.6579/0.6594 range after Tuesday's volatility

  • Markets waited for the China data dump, which came in mixed - no USD impact

  • Treasury yields eased, 10yr -2bp to 4.045% - AUD positive - E-mini S&P -0.1%

  • Charts; daily momentum studies slip, 5, 10 & 21 day moving averages slide

  • 21-day Bollinger bands expand - signals now show a strong negative setup

  • AUD poised at the 0.6583 200 DMA and 0.6572, 50% of the Oct-Dec rise

  • Sustained 0.6570 break would target 0.6500, 61.8% of the Oct-Dec rise

  • 0.6617 NY high then Tuesday's 0.6660 top are first resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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