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Dec 17 - 09:55 PM

AUD/USD - Profit Taking At Key Resistance, Trend Still Strong

By Andrew M Spencer  —  Dec 17 - 07:20 PM
  • -0.1%, after key 0.7638 resistance capped offshore - 38.2% 2011-2020 fall

  • Likely profit taking into the weekend, after a solid 1.1% gain this week

  • Sydney suburbs face new COVID-19 cluster, which is growing nL1N2IX2UV

  • Charts; 5, 10 & 21 daily, weekly and monthly moving averages trend north

  • Strong and rare bullish setup targets 0.7638 break, 38.2% 2011-2020 fall

  • Sustained 0.7640 break would initially target 0.7677 June 2018 high

  • Close below 0.7525, 10 DMA a base on this move, would undermine bias

  • 0.7615 NY low and earlier 0.7628 high initial support-resistance

For more click on FXBUZ


aud dec 18 Click here

Source:
Refinitiv IFR Research/Market Commentary

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