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Aug 04 - 01:55 AM

AUD/USD - Bid In Asia - RBA Will Be Data Driven

By Andrew M Spencer  —  Aug 03 - 11:35 PM
  • Trades up 0.45% in a busy 0.6547-0.6587 range, with the USD softer

  • No major surprises in the RBA's SOMP - cut growth outlook, inflation easing

  • Upcoming data will be pivotal for the RBA's outlook and interest rate policy

  • Risk appetite and the U.S. dollar will lead the AUD in offshore markets

  • Charts; momentum studies, 5, 10 & 21-day moving averages head lower

  • 21-day Bollinger bands expand - signals show a bearish trending setup

  • Close above falling 0.6663 10-day moving average needed to end downside bias

  • Sydney's 0.6547 low and Thursday's 0.6514 base first supports

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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