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Nov 04 - 07:55 PM

AUD/USD - RBA To Remain Cautious With Inflation Buoyant

By Andrew M Spencer  —  Nov 04 - 06:10 PM
  • Steady after closing up 0.38% amid broad-based US dollar weakness

  • Monday's early USD selloff was sustained by the tight US election flows

  • Today's RBA rate decision will be interesting, but markets expect few changes

  • The RBA to remain data-driven, and cautious on rate cuts, amid resilient inflation

  • Charts; 10 & 21-day moving averages fall, 21-day Bollinger bands ease

  • Mixed daily momentum studies - the October downtrend remains in place

  • Last week's 0.6537 low then 0.6477 0.786% of the Aug-Sep rise first support

  • 0.6590 10 DMA held on the close, then the 0.6652 21-DMA is first resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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