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Aug 26 - 02:55 AM

AUD/USD - July Top Caps A Busy Session, Top Still The Weak Side

By Andrew M Spencer  —  Aug 25 - 11:50 PM
  • Trades -0.2% at the base of a 0.6780-0.6798 range, capped by yen strength

  • AUD/JPY is 0.6% lower - yen strengthened after dovish Fed's Powell Friday

  • Considerable volumes on LSEG Matching since the open, despite a tight range

  • Charts; 5, 10 & 21-day, week moving averages climb - mixed momentum studies

  • 21-day Bollinger bands expand - overall a strong positive trending setup

  • The 0.6798 July trend top capped - 0.6871 Dec 2023 high is next resistance

  • A close above 0.6871 would target 0.6895/00, the June and July 2023 high

  • Break below 0.6697/01, Thursday's low and 21-DMA would end the topside bias

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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