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Jan 22 - 07:55 PM

AUD/USD - Opens Softer - All Eyes On China Markets

By Andrew M Spencer  —  Jan 22 - 05:45 PM
  • Steady after closing -0.45%, as China market turmoil capped risk appetite

  • No tier 1 Aus data or RBA events, so China markets are likely pivotal

  • BOJ rate decision with no policy changes expected should not impact AUD

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

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

  • First significant support comes in at 0.6500, 61.8% of the Oct-Dec rise

  • Close above the 0.6617 10-DMA would suggest a period of consolidation

  • 0.6525 2024 low and the 0.6597 New York high first support and resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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