By Andrew M Spencer — Jan 23 - 10:20 PM
+0.15%, trades near the top of a 0.7025-0.7045 range - moderate D3 flow
Australian businesses conditions moderated in December for a third month
Confidence still negative, forward orders slip- pressure eases for RBA hikes
RBAWATCH prices Feb 7 25pt hike to 3.35% at 65.76%- unchanged at 3.1% 34.25%
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
Close below last week's 0.6872 base would end topside bias
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Source:
Refinitiv IFR Research/Market Commentary