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Jan 28 - 09:55 PM

AUD/USD - Softer, And Charts Suggest Further Losses Next Week

By Andrew M Spencer  —  Jan 28 - 07:59 PM
  • Touch softer in a quiet month end session so far for FX in Asia

  • Modest stock moves, E-mini S&P +0.2%, Nikkei flat and AsiaxJP +0.2%

  • RBA cash rate seen on hold at record low; QE likely to extend nL1N2K30B7

  • Techs; momentum studies slip, 5, 10 & 21 DMAs crest - negative setup

  • 21 day Bollinger bands are expanding, leaving room for a move lower

  • Chart suggests a move towards 0.7502, 38.2% Nov-Jan rise is viable next week

  • Close above 0.7724 21 daily moving average would end the downside bias

  • London 0.7592 low and NY 0.7697 high is initial support and resistance

For more click on FXBUZ


aud jan 29 Click here

Source:
Refinitiv IFR Research/Market Commentary

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