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Jan 11 - 08:55 PM

AUD/USD - Bid As Confidence In A March Fed Rate Cut Builds

By Andrew M Spencer  —  Jan 11 - 07:00 PM
  • +0.15% after closing off 0.2% after a volatile response to U.S. CPI

  • At NY close markets priced a March Fed cut at 75.9% from 67.4% on Wednesday

  • Growing optimism for a March cut should provide underlying AUD/USD support

  • RBAWATCH fully prices a 25bp cut on August 6 - 19.7bp priced for June 18

  • No tier 1 Aus data or RBA speeches, so China CPI, USD, and risk lead the AUD

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

  • Horizontal 21-day Bollinger bands - mixed signals show no clear bias

  • NY 0.6647-0.6731 range is the initial support and resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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