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Jan 24 - 02:36 AM

AUD/USD - Heavy With Risk, As RBA Cut Expectations Ease Further

By Andrew M Spencer  —  Jan 23 - 10:40 PM
  • Touch softer - heavy early interest around NZD CPI nL4N29S4LV, then quiet

  • Very low key session in Asia, little news and wind down to Chinese New Year

  • OIS prices a Feb 4 RBA cut at 17.2% from 23.48% earlier and 48.1% pre jobs

  • AUD positive RBA expectations overcome by China virus fears nL4N29T040

  • Charts are bearish, with momentum studies, 5, 10 & 21 DMAs edging lower

  • 0.6827 January base then 0.6820, 76.4% Nov-Dec rise pivotal support

  • Close below 0.6820 would open the door to the 0.6754 Nov low next week

  • 0.6879, 200 DMA & yesterday's high is first resistance



aud 2 jan 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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