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Dec 03 - 02:36 AM
AUD/USD - Grinds Higher, RBA Offers No Solace For Shorts
First appeared on eFXplus on Dec 03 - 01:15 AM
  • AUD/USD gains 0.4% as disappointed shorts cover on slightly upbeat RBA

  • RBA holds rates but says economy may be at gentle turning point

  • Points to asset price boost from lower rates, says to lead to spending rise

  • C.Bank leaves door open to another cut, hence AUD rise likely to be limited

  • Focus shifts to Wed Q3 GDP, expected to expand 0.5% & annual growth +1.7%

  • AUD whittling down resistance @ 0.6842,50% of Oct-Nov fall; more @ 0.6863-65

  • Support 0.6815-20, 0.6800-05; related nL4N28D0IC


Source:
Refinitiv IFR Research/Market Commentary

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