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Oct 30 - 07:55 PM

AUD/USD - Recovers From Early Dip As Market Positions For Central Bank Decisions

By John Noonan  —  Oct 30 - 05:20 PM
  • AUD/USD traded down to 0.6390 first up after closing -0.67% Friday @ 0.6411

  • USD firm early on WSJ article saying Fed could keep rates "higher for longer"

  • AUD/USD finding bids and is back to trading around 0.6400/05

  • Big week for central banks with the RBA and Fed meeting to decide on rates

  • RBA meets Tuesday and is expected to hike 25 BPs, but it may be a close call nL4N31Q0QT

  • Fed decision Wednesday and 75 BP hike priced in - but key will be guidance

  • Market pricing in Fed to scale back size of hikes after November meeting

  • AUD/USD not benefiting from surging equity prices as commodity prices slump

  • AUD/USD support at 10-day MA at 0.6372 and 21-day MA at 0.6364

  • A break below the the 21-day MA will increase downward pressure

  • nL1N31T2Q2nL1N31T0NF

  • Key resistance is at the 38.2 of the 0.7136/0.6170 move at 0.6539

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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