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Feb 07 - 11:55 PM

AUD/USD - Resilient With Stocks, And Commodities In Asia

By Andrew M Spencer  —  Feb 07 - 10:10 PM
  • Up 0.15%, bid in a quiet session on D3 - China CPI had little impact

  • China CPI fell 0.8% y/y more than 0.5% poll, markets await further stimulus

  • Upbeat stocks, commodities, Nikkei +1.7%, AsiaxJP +0.15%, CMCU copper +0.45%

  • Charts; 5, 10 & 21 day moving averages fall, 21-day Bollinger bands contract

  • Daily momentum studies flat line - the setup retains the downside bias

  • This week's 0.6469 low and 0.6412 76.4% Oct-Dec rise are initial supports

  • 0.6549 10-day moving average and then 0.6578 21-DMA are the first resistance

  • Close above well-tested 0.6578 21-DMA would end the downside bias

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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