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
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Source:
Refinitiv IFR Research/Market Commentary