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Oct 06 - 01:55 AM

AUD/USD - RBA On Hold - Jobs A Priority - AUD Firmed A Touch

By Andrew M Spencer  —  Oct 05 - 11:45 PM
  • RBA left rates unchanged, as widely expected with door open to a Nov cut

  • AUD moved up 15pts from 0.7190 to 0.7205 on the news, as shorts covered

  • Statement highlighted that jobs and unemployment are a national priority

  • Charts, momentum studies flat line, 5, 10 & 21 DMAs conflict - neutral setup

  • 0.7209 - October high and 50% of the September fall is first resistance

  • Earlier 0.7180 low then 0.7172 NY base initial support

  • Focus swings to the budget, aimed at stimulating the economy nL4N2GX039

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aud 2 oct 6 Click here

Source:
Refinitiv IFR Research/Market Commentary

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