• AUD/USD inside day .6765/25, Wed range .6695-.6782. Pivots 100-dma .6742

• Jan 6 low 0.6689 before big support 50% Fibo retrace Oct-Feb gains 0.6664

• 200-dma 0.6794 is resistance. Overall conviction appears low for now

• Falling FX option implied volatility is more consistent with range trade

• 1-month by 2023 low 12.1 and can offer value as big U.S. data/Fed loom

• Options have also reduced premium for downside versus upside strikes

• 1-month expiry risk reversal tests Jan and 1-yr lows for AUD put/USD call

  
  

  
  

  
  

  
  

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