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Oct 03 - 07:55 PM

AUD/USD - More Than Reverses Friday's Fall Ahead Of RBA

By John Noonan  —  Oct 03 - 06:10 PM
  • AUD/USD roared 1.61% higher Monday as risk assets soared and USD eased

  • Fall in US yields soothed investors and took edge off USD nL1N314255

  • AUD and NZD best performing currencies after they were worst on Friday

  • RBA decision today is the key event in Australia with a 50 BP hike expected

  • A smaller 25 BP hike wouldn't shock - nor would a 50 BP hike with less hawkish guidance nL4N30Z39L

  • AUD/USD is trading above 10-day MA (0.6516) for first time since Sep 13

  • The 0.6520/40 window has held rallies since Sep 23

  • A break above 0.6540 targets 21-day MA at 0.6641

  • Support is at yesterday's 0.6402 low and trend low at 0.6363

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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