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Nov 07 - 08:55 PM

AUD/USD - Little Reaction So Far To Slide In Aus Consumer Sentiment

By John Noonan  —  Nov 07 - 07:10 PM
  • WP-MI consumer sentiment slid 6.9% to 78 - the lowest reading since early 1990s nS9N31B00W

  • RBA statement on Nov 1 noted household spending a a source of uncertainty nS9N31B001

  • If weak sentiment results in falling consumption it will impact RBA expectations

  • AUD/US steady around 0.6475, as buoyant risk appetite underpins for now

  • Resistance is between 0.6535/55 where 55-day MA and 38.2 fibo converge

  • Support is at 10-day MA at 0.6421 and 21-day MA at 0.6358

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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