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Jan 12 - 09:55 PM

AUD/USD - Moves Higher With Risk As Global Inflation Fears Ease

By Andrew M Spencer  —  Jan 12 - 07:30 PM

  • +0.1% after closing +0.9% amid broad USD weakness and improved risk appetite

  • Yen led the USD lower offshore and yen cross flow may be key for AUD in Asia

  • WSJ reported that China is ending the ban on Australian coal nFWN33W3LF

  • Easing of China trade restrictions would be a strong positive longer-term

  • Charts; momentum studies edge higher, 21 day Bollinger bands expand

  • 5, 10 & 21 day moving averages climb - strong positive setup

  • Targets a test of 0.7091 longer term, 61.8% of the 2022 fall

  • Sydney 0.6960 low and New York 0.6984 high initial support, resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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