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Oct 06 - 09:55 PM

AUD/USD - Soft E-Mini S&Ps Cap After A Bearish Outside Day

By Andrew M Spencer  —  Oct 06 - 07:55 PM
  • Closed -1.1% with soured risk and expectations of a Nov RBA cut nL4N2GS0US

  • Flat early with no significant data today - E-mini S&P -0.3% will likely cap

  • Charts, momentum studies, 10 & 21 DMAs edge lower modest negative setup

  • Bearish outside day needs a close under Tuesday's 0.7100 base to validate

  • 0.7209 - October high and 50% of the September fall is first resistance

  • NY afternoon 0.7155 high then NY 0.7169 top are first resistance

  • NY 0.7095 low then 0.7083, 50% Sep/Oct bounce are initial support

    For more click on FXBUZ

aud oct 7 Click here

Source:
Refinitiv IFR Research/Market Commentary

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