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Dec 08 - 11:55 PM

AUD/USD - Soft With The Firmer USD, But Risk Resilient

By Andrew M Spencer  —  Dec 08 - 10:39 PM

  • -0.05% inside day with a tight 0.7158-0.7173 range, busy early then quiet

  • Low key Asian FX, oil up, Brent +1%, stocks mostly firmer, UST yields steady

  • Digital AUD led by demand - cautious on crypto-assets - RBA nS9N2QH02N

  • Charts; 10 & 21 daily and weekly moving averages continue to trend lower

  • Daily momentum studies base, 21 day Bollinger bands contract - neutral setup

  • Break of 0.7109 10 DMA suggests downtrend will enter a consolidation phase

  • Sustained 0.7189 21 DMA and 0.7208, 38.2% Oct-Dec fall would be bullish

  • Close below 0.7109 10 DMA would reinvigorate the downtrend

    For more click on FXBUZ


aud 2 Dec 9 Click here

Source:
Refinitiv IFR Research/Market Commentary

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