By Andrew M Spencer — Nov 07 - 06:40 PM
Off 0.05% after jumping 1.7% with the USD off 0.75% and softer UST yields
Commodities climbed - U.S. copper closed up 4.5% on China stimulus optimism
There is no significant Aus data or RBA events, so risk and USD lead AUD
It was a hectic week for event risk - Asia may consolidate into the weekend
Charts; 5, 10 & 21-day moving averages conflict, 21-day Bolli bands contract
Daily momentum studies edge higher - signals show a modest topside bias
Close above 0.6642 21 DMA targets a test of the 0.6722 high on Oct 21st
Thursday's 0.6565 base and this week's 0.6513 low are initial supports
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Source:
Refinitiv IFR Research/Market Commentary