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Jan 24 - 08:55 PM

AUD/USD - Softer With Lower E-Minis, As CPI Approaches

By Andrew M Spencer  —  Jan 24 - 06:50 PM

  • -0.15% with risk appetite as E-mini S&P futures trade down 0.4% early

  • Inflation data is key upcoming event risk - headline poll 1.6 q/q, 7.5% y/y

  • Trimmed mean is RBAs preferred measure - poll 1.5% q/q, 6.5% y/y

  • Data to drive RBA expectations - RBAWATCH prices a 25pt 3.35% hike at 58.33%

  • Charts; momentum studies and 21 day Bollinger bands head higher

  • 5, 10 & 21 day moving averages climb - positive trending setup

  • Targets a test of major resistance at 0.7091, 61.8% of the 2022 fall

  • Sustained break of 0.6897 21 day moving average base would end topside bias

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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