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Dec 05 - 11:55 PM

AUD/USD - Bid As Risk Appetite Returns - 0.7121 Key Resistance

By Andrew M Spencer  —  Dec 05 - 10:22 PM

  • +0.3% towards the top of a 0.6995-0.7026 range with steady flows throughout

  • Bargain hunting after Friday's 1.3% fall, plus strong job ads nS9N2QH02F

  • Risk calms - E-Mini S&P +0.45%, Brent oil +2.3%, 10 yr UST +4bp to 1.382%

  • RBA likely cautious at Tuesday's meeting, as Omicron expands nL1N2SQ0J0

  • 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 major support, break targets 0.6758 50% 2020/21 rise

  • 0.7121 10 DMA has capped the trend - close above needed to undermine

For more click on FXBUZ


aud 2 Dec 6 Click here

Source:
Refinitiv IFR Research/Market Commentary

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