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Jan 17 - 10:55 PM

AUD/USD - Bid Despite Weak Jobs, As Risk Appetite Resurfaces

By Andrew M Spencer  —  Jan 17 - 10:10 PM
  • +0.15% near the top of a 0.6525-0.6562 range - dipped on weak jobs data

  • Risk appetite resurfaces in Asia - UST yields and USD ease, stocks firm

  • Australia jobless rate held at 1-1/2 year high - have rates peaked?

  • RBAWATCH prices 23pts of cuts in September - steady unless data surprises

  • Charts; daily momentum studies slip, 5, 10 & 21 day moving averages slide

  • 21-day Bollinger bands expand - signals now show a strong negative setup

  • 0.6554 lower 21-day Bolli band suggests the market is oversold short-term

  • First significant support comes in at 0.6500, 61.8% of the Oct-Dec rise

  • Sydney 0.6525 and New York 0.6565 high is initial support and resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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