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Jan 29 - 10:55 PM

AUD/USD - Weaker With Risk Appetite, And Month End Cross Flows

By Andrew M Spencer  —  Jan 29 - 10:20 PM

  • -0.2% at the base of a 0.7093-0.7120 range with consistent flow on D3

  • AUD softer with risk appetite - E-mini S&P -0.25% - mixed Asian stocks

  • AUD/NZD trades at the base of a 1.0925-1.0955 range - heavy flow at lunch

  • Cross flow looks like month end profit taking - cross up 4.5% since mid Dec

  • Charts; net positive momentum studies, 21 day Bollinger bands head higher

  • 5, 10 & 21 daily and weekly moving averages all climb - bullish setup

  • Close above 0.7136 August high would target a test of the 0.7282 June top

  • Close below 0.6947 rising 21 day moving average would end topside bias

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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