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Jul 03 - 07:55 PM

AUD/USD - Sellers Into 0.6600 Cap, But Signals Remain Bullish

By Andrew Spencer  —  Jul 03 - 06:57 PM

• Off 0.05% early after closing down 0.2% with the U.S. dollar up 0.35%

• Stronger USD and higher UST yields capped AUD offshore - may weigh in Asia

• There is no AUD data today or scheduled RBA events - risk, USD to lead AUD

• Charts, 5, 10 & 21-day moving averages climb, 21-day Bolli bands expand

• Daily momentum studies crest - net bullish setup - sellers around 0.6600 cap

• Key support levels: This week's 0.6523 low, 0.6441 lower 21-day Bollinger

• Resistance levels: Tuesday's 0.6589 2025 top, then the 0.6687 Nov 2024 high

• A close below the rising 21-DMA at 0.6520 would undermine the uptrend
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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