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Aug 29 - 03:55 PM

AUD/USD - Breaks Away From 10-DMA Tether At 0.6426, Bulls Target 21-DMA At 0.6483

By Paul Spirgel  —  Aug 29 - 01:40 PM
  • AUD$ holds NorAm gains into close, +0.58% at 0.6467, Tues range 0.6468-01

  • Soft U.S. JOLTS/cons confidence data weighs on UST yields, lifts AUD$

  • Recent stimulative China growth actions helped put floor in AUD$ sub-0.64

  • USD/CNH a tad lower; oil, copper gains help boost commod-centric AUD

  • Close above 10-DMA 0.6426 adds to bullish tone, res at 21-DMA 0.6483

  • Further res at falling 30-DMA 0.6560, 50% of 0.6821-0.6365 at 0.659s

  • Support at 10-DMA, Tues low 0.6401, Aug 25 low 0.6380, 2023 low 0.6365

  • Key data China Mfg PMIs Aug 30,31 f/c a touch higher may hold sway

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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