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Jan 31 - 12:12 AM

AUD/USD - Virus And Fresh Fires Cap, As Charts Point To 0.6670

By Andrew M Spencer  —  Jan 30 - 10:35 PM
  • Trades off 0.2% with AUD/JPY -0.1%, after consistent interest all day

  • AUD is 1.6% lower this week and 4.3% in Jan, as the China virus weighs

  • Virus continues to expand nL4N29Z6DC, will cap AUD-risk until it slows

  • State of emergency declared as bushfire threatens Canberra nL4N2A00GY

  • OIS price Feb 4 RBA cut at 12% but an easing bias will certainly be retained

  • Charts - momentum studies, 5, 10 & 21 DMAs track south - bearish setup

  • Next significant support come in at the 0.6670 October and 2019 low

  • 0.6742, 5 DMA & 0.6750-55 430M strikes pivotal for the downside bias


aud 3 jan 31 Click here

Source:
Refinitiv IFR Research/Market Commentary

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