By Andrew M Spencer — Sep 05 - 07:15 PM
Steady early after closing up 0.25% with the U.S. dollar off 0.2%
Thursday's RBA Governor Bullock's hawkish outlook changed expectations
RBAWATCH prices a Dec 10 cut at 13.8bp from 21.27bp at last Friday's close
The RBAs stance is contrary to the dovish Fed and ECB - should support AUD
Charts, 21-day Bolli bands contract, 5, 10, and 21-day moving averages coil
Daily momentum studies crest - mixed signals as the uptrend hangs in
Wednesday's 0.6749 high then Tuesday's 0.6792 top are initial resistance
Close below the 0.6715 21-DMA and Wednesday's 0.6685 base would be bearish
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Source:
Refinitiv IFR Research/Market Commentary