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Jan 23 - 07:55 PM

AUD/USD - AUD Firmer Offshore - Poised Below Key Resistance

By Andrew M Spencer  —  Jan 23 - 06:05 PM
  • Steady after closing up 0.1% with the U.S. dollar a touch firmer

  • AUD up on the crosses, AUD/JPY +0.35%, EUR/AUD -0.5%, and GBP/AUD -0.4%

  • No real reason for AUD resilience - demand seen in the New York afternoon

  • Charts; mixed daily momentum studies, 10 & 21-day moving averages slide

  • 21-day Bollinger bands fall - negative setup, but progress is needed soon

  • First significant support comes in at 0.6500, 61.8% of the Oct-Dec rise

  • Close above the 0.6607 10-DMA would suggest a period of consolidation

  • New York 0.6552-0.6599 range is initial support and resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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