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Feb 06 - 09:55 PM

AUD/USD - Resilient As The Dust Settles On The Cautious RBA

By Andrew M Spencer  —  Feb 06 - 07:25 PM
  • +0.05% after closing up 0.6%, as the dust settles on the cautious RBA

  • The RBA is wary of the market pricing early rate cuts, fuelling inflation

  • RBAWATCH prices 23.24bp of cuts in August from 26.63bp at Friday's close

  • There is no tier-one Australian data today, so risk and the USD to lead AUD

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

  • Daily momentum studies edge lower - the setup shows a strong downside bias

  • The 0.6487 London low and Monday's 0.6469 trend low are initial supports

  • 0.6555 10-day moving average then pivotal 0.6592 21-DMA are first resistance

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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