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Feb 05 - 11:55 PM

AUD/USD - Brief 0.6885 Dip - Offshore Risk Appetite Key

By Andrew M Spencer  —  Feb 05 - 10:20 PM

  • +0.05% near the top of an active 0.6885-0.6932 range on D3 - USD +0.05%

  • Retail sales -0.2% in Q4, against -0.6% forecast, and price growth slowed

  • RBA expected to hike 25bp to 3.35% at the rate decision on Tuesday

  • RBA's outlook will be key for the AUD after strong CPI but soft retail sales

  • Charts; Friday's fall turned daily charts negative, momentum studies slide

  • 5, 10 & 21 DMAs crest or fall, while 21 day Bollinger bands contract

  • Initial support comes in at the 0.6845 lower 21 day Bollinger band

  • Resistance starts at 0.6932 Sydney high, then 0.6999 21 DMA

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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