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AUD/USD makes its way to one-week high

© Dukascopy Bank SA
"Reading the [RBA governor's] statement closely, this suggests the RBA is likely to wait until February when it will have another inflation print, which will likely confirm the lower than previously anticipated inflation trajectory. From here it seems that a rate cut in February is most likely."
- ANZ (based on WBP Online) 


Pair's Outlook 
This time the 55-day SMA provided enough impetus for the AUD/USD currency pair to pierce the immediate resistance. However, the Aussie failed to remain above the 0.72 level, as was expected, but might retake it today. The 20-day SMA is the nearest obstacle, limiting the Antipodean currency's volatility, while the 100-day one is the ceiling, as it is bolstered by the down-trend. From below the pair is supported by the 55-day SMA, the weekly and monthly PPs, a breach of which could trigger a slump towards 0.7080, where the Bollinger band coincides with the up-trend. 

Traders' Sentiment 
Bullish traders' sentiment remains unchanged at 70%, while the percentage of buy orders fell to a more than a one-year low of 17%.
© Dukascopy Bank SA


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