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Jan 11 - 10:55 PM

AUD/USD - Egdes Higher In Asia Ahead Of US CPI

By John Noonan  —  Jan 11 - 10:10 PM
  • AUD/USD opened +0.19% at 0.6906 after a quiet US session nL1N33W1EA

  • USD weakened in Asia - led by a fall in USD/JPY due to BOJ piece in Yomuri nT9N32301T

  • AUD/USD rose to 0.6920 before settling around 0.6915 into the afternoon

  • There wasn't any reaction to Aus trade data or China inflation data nAZN0XH69PnL1N33X03I

  • The Fundamental backdrop has turned favourable for the AUD

  • China optimism fuelling commodity demand and US yields are below AU yields

  • A benign US CPI read later today would likely result in AUD/USD break higher

  • Resistance is at the Jan 9 high at 0.6950 where sellers are tipped

  • Support is at the 10-day MA at 0.6843 and break would suggest top is forming

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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