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Dec 06 - 09:55 PM

AUD/USD - Trends Lower - RBA Unlikely To Surprise

By Andrew M Spencer  —  Dec 06 - 07:19 PM

  • Touch softer after closing up 0.75%, as risk appetite rebounded

  • Latest poll showed economists favour first RBA hike in Q1 2023 nL4N2SM42U

  • Markets are more hawkish - RBAWATCH fully prices a hike in August 2022

  • RBA meeting likely low key as Omecron sustains cautious outlook nL4N2SM42U

  • Charts; 5, 10 & 21 daily and weekly moving averages trend lower

  • Daily momentum studies, 21 day Bollinger bands fall - strong bearish setup

  • 0.6990 Nov 2020 base major support, break targets 0.6758 50% 2020/21 rise

  • 0.7106 10 DMA has capped the trend - close above needed to undermine bias

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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