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Oct 21 - 07:55 PM

AUD/USD - Downtrend Extends As Treasury Yields, USD Climb

By Andrew M Spencer  —  Oct 21 - 06:50 PM
  • Steady after closing down 0.7% with the USD +0.5% as Treasury yields jumped

  • U.S. yields climbed as markets re-priced the impact of recent strong US data

  • Markets expect 25pt Fed cuts in November and December, but not 50pt cuts

  • There is no Aus data or RBA events, so risk appetite and the USD to lead AUD

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

  • 21-day Bollinger bands expand - daily charts retain a downside bias

  • 0.6702 10-DMA caps, then last week's 0.6793 high are first resistances

  • 0.6627 200-day moving average and 0.6622 September low are initial supports

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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