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Jan 24 - 11:55 PM

AUD/USD - On Hold Ahead Of A Busy Night Of Event Risk

By Andrew M Spencer  —  Jan 24 - 10:20 PM
  • Steady in a tight 0.6566-0.6581 range, as markets digest the China stimulus

  • Positive markets, SSEC +1.9%, AsiaxJP +0.5%, Nikkei -0.2%, ASX 200 +0.45%

  • The ECB rate decision and U.S. GDP suggest a volatile session offshore

  • Australia's Labor government defends it's shift in personal tax policy

  • Charts; daily momentum studies, 5, 10 & 21-day moving averages conflict

  • 21-day Bollinger bands fall - net negative setup, but progress needed soon

  • First significant support comes in at 0.6500, 61.8% of the Oct-Dec rise

  • Close above the 0.6595 10-DMA would suggest a period of consolidation

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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