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Nov 10 - 08:55 PM

AUD/USD - Opens Sharply Higher, As Fed Hike Expectations Cool

By Andrew M Spencer  —  Nov 10 - 06:35 PM

  • Off 0.2% as local customers take advantage of the 2.9% spike on Thursday

  • USD tumbled as softer than expected U.S. inflation eased Fed hike outlook

  • No significant Australian data or scheduled RBA activity, so risk to lead

  • E-mini S&P futures trade +0.1%, if they remain positive, AUD to stay strong

  • Charts; bullish outside day to be validated by a close above 0.6631 NY high

  • 5, 10 & 21 day moving averages head higher a 21 day Bollinger bands expand

  • The bullish trending setup targets a test of 0.6739, 38.2% 2022 fall

  • NY 0.6515-0.6631 range after initial CPI spike initial support, resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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