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Dec 08 - 01:55 AM

AUD/USD - Breaks Free Of Downtrend; Shorts May Capitulate

By Ewen Chew  —  Dec 08 - 01:09 AM
  • AUD/USD leapt out of Bollinger downtrend channel Tues

  • Also reclaims Aug low, gaining solid floor at 0.7107

  • Shorts likely motivated to trim further, spur AUD higher

  • Primary target for longs to take profit is 21 DMA 0.7195

  • But inability to breach that resistance may cue pullback

  • Broad improvement in risk appetite fuels Asia stocks higher

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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