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May 31 - 10:55 PM

AUD/USD - Bid Into Data - No Initial Impact - All Eyes On RBA

By Andrew M Spencer  —  May 31 - 09:38 PM

  • +0.4% into data, leading USD down - building approvals, -8.6% poll -10%

  • Net exports -0.6% poll -1.1%, current account 18.3BLN poll 17.9BLN

  • Generally positive data had little initial impact, as market awaits RBA

  • Charts, momentum studies base, neutral 5, 10 & 21 daily moving averages

  • Neutral setup, as choppy broad 0.7670-0.7890 consolidation extends

  • Value in fading 0.7682-0.7838 21 day Bolli band with stops outside the range

  • Lower band tested and held on Friday - strategy remains valid

  • Earlier 0.7736 base and last week's 0.7796 high initial support


For more click on FXBUZ


aud jun 1 Click here

Source:
Refinitiv IFR Research/Market Commentary

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