By Krishna K — Jan 25 - 10:10 PM
AUD/USD trades in a narrow but well supported 0.7093-0.7123 range in Asia
Hawkish RBA expectations support after hot Q4 inflation Wed shocked traders
Risk of 2 more 25bps RBA hikes to 3.6% being priced in; some expect 3.85%
Ability to hold its 3.3% gains from last Thu low of 0.6872 signals strength
Positive fundamentals, constructive chart signals point to further gains
Upbeat analysts' calls on Asian stocks & AXJ currencies lift AUD sentiment
Caution ahead of Thu-Fri U.S. data, Feb 1 Fed rate decision may slow rally
Australia markets closed Thu; resistance 0.7125-35, support 0.7060-65
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary