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Jan 30 - 03:55 PM

AUD/USD - Ahead Of Fed, Jobs Data The Signals Remain Bearish

By Christopher Romano  —  Jan 30 - 11:40 AM
  • AUD/USD hit a 10-session high of 0.6625, rally stalled near the 21-DMA

  • Sellers emerged, soured risk and upbeat US data drove US$ buying

  • Lingering concern on China's property sector weighed down the AUD

  • AUD/USD turned lower, traded 0.65755, neared the 10- & 200-DMAs

  • Daily RSI diverged on today's high, daily inverted hammer candle formed

  • Falling daily, monthly RSI, bear flag on daily chart reinforced bear signs

  • Fed meeting, Powell presser, Jan. ADP risks loom for Wednesday

  • ADP may have more impact than Fed especially if report is upbeat

  • AUD/USD's down trend may extend on better than estimate ADP

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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