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Refinitiv
Jan 09 - 09:48 PM
AUD/USD - Modest Bounce As Retail Sales Beat Expectations
First appeared on eFXplus on Jan 09 - 07:40 PM
  • Flat into volatile retail sales, which came in at +0.9% - poll +0.4%

  • Knee jerk 10pt bounce on the headline, but it wont change sentiment

  • Risk bounce in the last 48 hours has only provided an AUD base

  • Fires expected to accelerate today - weighs on sentiment nL4N29D1YP

  • Charts have turned bearish with falling momentum studies, 5, 10 & 21 DMAs

  • Close below 0.6860, 61.8% of the December bounce was bearish

  • 0.6838 Dec 17th base then 76.4% Dec bounce are initial support

  • 0.6877 5 DMA, then 0.6892 200 DMA are first resistance



aud jan 10 Click here

Source:
Refinitiv IFR Research/Market Commentary

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