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Jan 24 - 09:55 PM

AUD/USD - CPI Surprises - RBA Tightening Expectations Rise

By Andrew M Spencer  —  Jan 24 - 07:45 PM

  • AUD jumps 0.55% as inflation exceeds expectations, then eases to +0.35%

  • Trimmed mean RBAs preferred measure +1.7% q/q poll 1.5%, 6.9% y/y poll 6.5

  • Headline CPI - +1.9% - poll 1.6 q/q, +7.8% - poll 7.5% y/y,

  • RBAWATCH prices a 25pt 3.35% hike at 71.8% from 58.33% pre data

  • Charts; momentum studies and 21 day Bollinger bands head higher

  • 5, 10 & 21 day moving averages climb - positive trending setup

  • Targets a test of major resistance at 0.7091, 61.8% of the 2022 fall

  • Sustained break of 0.6899 21 day moving average base would end topside bias

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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