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Oct 29 - 10:55 PM

AUD/USD - CPI Near Expectations, Muted Response, Trend Is Lower

By Andrew M Spencer  —  Oct 29 - 08:45 PM
  • CPI q/q +0.2% poll +0.3%, CPI 2.8% y/y poll 2.9% touch softer than forecast

  • Trimmed mean q/q +0.8% poll +0.7% a faction higher - overall a modest impact

  • AUD is a touch softer at the base of a 0.6554-0.6569 range

  • RBAWATCH priced no change on Nov 5th at 91.14% pre CPI - 90.86 post

  • Charts; 5, 10 & 21-day moving averages fall, Daily momentum studies ease,

  • 21-day Bollinger bands slide - a strong bearish trending setup

  • 0.6477 0.786% of the August-September rise is now initial support

  • Sustained 0.6477 break would target a test of the 0.6348 August base

  • 0.6632 10-day moving average, then the 0.6698 21-DMA are first resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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