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Jan 19 - 11:55 PM

AUD/USD - Bid With Resilient Risk Appetite Into Lunar New Year

By Andrew M Spencer  —  Jan 19 - 10:25 PM

  • Up 0.3% - trades near the top of a quiet 0.6907-0.6933 range on D3

  • Light volumes with no significant AU data into Lunar New Year

  • Resilient risk appetite, E-mini S&P +0.2%, Nikkei flat and AsiaxJP +0.35%

  • Charts; momentum studies fall, 21 day Bollinger bands contract

  • 5, 10 & 21 day moving averages conflict - positive setup turned neutral

  • Thursday's 0.6948 high then this week's 0.7063 top first resistance

  • Close below 0.6846/50, 50% Dec/Jan rise and 21 DMA would be bearish

  • Asian 0.6907 low and Thursday's 0.6948 high initial support and resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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