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Nov 06 - 01:55 PM

AUD/USD - Daily Techs Warn Longs As RBA Is Now In Focus

By Christopher Romano  —  Nov 06 - 12:40 PM
  • AUD/USD hit a 3-mo high of 0.6523 then turned lower on the session

  • Pair fell back below the 38.2% Fib retracement of the 0.6895-0.6271 fall

  • Daily RSI diverged on the high & a daily inverted hammer candle formed

  • Recently established longs are likely concerned by signals on daily charts

  • Rising monthly RSI & AUD/USD hold above 55-DMA, cloud base comforts longs

  • RBA meeting due; market indicates a near 60% chance of a hike 0#RBAWATCH

  • No hike or a "dovish" hike may put bearish pressure on the Australian dollar

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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