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Oct 28 - 07:55 PM

AUD/USD - Opens Lower, Soft Commodities, Firmer UST Yields Cap

By Andrew M Spencer  —  Oct 28 - 06:45 PM
  • Steady after closing down 0.35%, with the U.S. dollar unchanged

  • AUD weakness likely caused by softer commodities, higher UST yields

  • There is no significant AUD data or RBA events today - risk/USD lead

  • Charts; 5, 10 & 21-day moving averages fall, daily momentum studies ease

  • 21-day Bollinger bands slide - daily charts maintain the downside bias

  • 0.6577 0.618% of the August-September rise is under pressure

  • Sustained 0.6577 break targets a test of 0.6477, 0.786% Aug/Sep rise

  • 0.6645 10-day moving average, then the 0.6714 21-DMA are first resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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