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Jan 23 - 02:36 AM

AUD/USD - RBA Cut Pricing Hit Hard By Strong Jobs, 0.6905 Key

By Andrew M Spencer  —  Jan 22 - 10:30 PM
  • +0.5% after solid jobs data beat 15k expectations at 28.9k nL4N29S07F

  • Heavy volumes on the jobs release and steady flow in Asia since

  • OIS futures price a Feb RBA cut at 18.45% from 48.1% pre jobs

  • Despite RBA now expected hold on Feb 4, the setup is negative nL1N29S012

  • Charts net bearish, with momentum studies, 5, 10 & 21 DMAs edging lower

  • Earlier 0.6839 low then yesterday's 0.6827 base initial support

  • 0.688081 200 DMA & 10 DMA, then 0.6905, 38.2% Dec-Jan fall resistance

  • Close above 0.6905 would end the downside bias

aud 3 jan 23 Click here

Source:
Refinitiv IFR Research/Market Commentary

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