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Feb 01 - 09:55 PM

AUD/USD - Bid With Risk And A Strong Bullish Tech Signal

By Andrew M Spencer  —  Feb 01 - 07:00 PM

  • Up 0.1% as the USD initially dips, after closing up 1.2% with risk appetite

  • Building approvals lead data, poll +1% - interesting, unlikely market moving

  • Regional stocks to take the positive Wall Street lead - ASX 200 +0.6%

  • Expecting cautious trading ahead of BoE and ECB rate decisions tonight

  • Charts; momentum studies base, 21 day Bollinger bands head higher

  • 5, 10 & 21 daily and weekly moving averages all climb - bullish setup

  • Strong close left a bullish hammer reversal on the daily candlesticks

  • This is an unusual strong positive signal - 0.6992 21 DMA is pivotal support

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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