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Dec 06 - 11:55 PM

AUD/USD - RBA Stick To The Play Book - Modest Response

By Andrew M Spencer  —  Dec 06 - 10:45 PM

  • Steady into the RBA - no change in rates as expected and AUD little changed

  • RBA's tone remained cautious on inflation, with Omicron variant an outlier

  • Trades at the top of a 0.7040-0.7064 range with only moderate interest

  • Australia Q3 house prices jumped 5%, up A$1 tln in last 6 month nAZN01WDIB

  • Charts; 5, 10 & 21 daily and weekly moving averages trend lower

  • Daily momentum studies, 21 day Bollinger bands fall - strong bearish setup

  • 0.6990 Nov 2020 base is major support, break targets 0.6758 50% 2020/21 rise

  • 0.7107 10 DMA has capped the trend - close above needed to undermine bias

For more click on FXBUZ


aud 2 Dec 7 Click here

Source:
Refinitiv IFR Research/Market Commentary

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