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Feb 19 - 09:55 PM

AUD/USD - No Real Surprises In The Minutes - RBA Is Cautious

By Andrew M Spencer  —  Feb 19 - 07:45 PM
  • Off 0.15% into the RBA minutes - no shocks in the minutes, AUD still -0.15%

  • RBA needs more time to be confident that inflation is on the decline

  • Progress made on inflation, jobs market was loosening faster than expected

  • RBAWATCH priced 25.52 pts in cuts for Sept pre minutes - 25.31 currently

  • Charts; 5, 10 & 21 day moving averages coil, 21-day Bollinger bands contract

  • Daily momentum studies climb - signals suggest a base is forming

  • Close above the under pressure 0.6539 21-DMA would be a positive signal

  • The 0.6443 February and 2024 trend low is the initial major support

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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