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Jan 24 - 07:55 PM

AUD/USD - Moves Steadily Higher, Nears Key Resistance; Q4 CPI Eyed

By Krishna K  —  Jan 24 - 05:35 PM
  • AUD/USD to remain bid on dips after closing 0.25% higher Tuesday

  • Boosted by buoyant risk sentiment, waning fears of global recession

  • Soft U.S. economic data raises optimism of less aggressive Fed rate hikes

  • Australia Q4 CPI due Wed, expected to accelerate to 7.5% from previous 7.3%

  • Higher than expected reading will cement expectations of 25bps RBA Feb hike

  • Some expect the cenbank to pause after soft jobs data last week

  • Resistance 0.7065-75, 0.7090-0.7100; support 0.7000-05, 0.6965-70

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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