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Oct 31 - 01:55 AM

AUD/USD - Today's Data Is Unlikely To Change The RBAs Outlook

By Andrew M Spencer  —  Oct 30 - 11:25 PM
  • Trades +0.05% at the top of a tight, quiet 0.6564-0.6576 FX Matching range

  • Weaker than expected retail sales unlikely to change the RBA hawkish outlook

  • The RBA will hold rates at 4.35% on Nov 5th - RBAWATCH prices hold at 97%

  • Charts; 5, 10 & 21-day moving averages fall, 21-day Bollinger bands contract

  • Daily momentum studies ease - the bearish setup remains in place

  • Wednesday's 0.6537 low then 0.6477 0.786% of the Aug-Sep rise first support

  • A sustained 0.6477 break would target a test of the 0.6348 August base

  • 0.6621 10-day moving average, then the 0.6683 21-DMA are first resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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