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Feb 19 - 10:55 PM

AUD/USD - No RBA Surprise - Risk Appetite Weak Despite LPR Cut

By Andrew M Spencer  —  Feb 19 - 10:05 PM
  • AUD trades -0.25% near the base of a 0.6521-0.6541 range - moderate D3 flow

  • RBA minutes showed "some time" needed to confirm that inflation is falling

  • Muted response to the China 25pt 5yr LPR cut - no bounce in risk appetite

  • E-mini S&P -0.3%, Nikkei -0.1% AsiaxJ -0.25% - markets are cautious in Asia

  • Charts; 5, 10 & 21 day moving averages coil, 21-day Bollinger bands ease

  • Daily momentum studies climb - mixed signals show little short-term bias

  • Close above the under pressure 0.6539 21-DMA would be a positive signal

  • The 0.6443 February and 2024 trend low is the initial major support

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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