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Thomson Reuters
Aug 09 - 02:36 AM
AUD/USD - Edging Above Key Resistance As Shorts Bail
First appeared on eFXplus on Aug 08 - 11:00 PM
  • AUD/USD edging above 55-day MA (0.7450), which has held since June 13
  • Break above the Tuesday/Wednesday top at 0.7440 sparked fresh short covering
  • Clear break above 0.7450 initially targets double-top at 0.7464
  • Key resistance at the double-top 0.7485 and 0.7500 break would rattle shorts
  • AUD underpinned by Asian equities (AXJ indx +0.58%) and AUD/NZD buying

aud/usd Click here

Source:
Thomson Reuters IFR Markets

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