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Nov 06 - 07:55 PM

AUD/USD - Lower On USD Strength And US Policy Uncertainty

By Andrew M Spencer  —  Nov 06 - 06:20 PM
  • Steady after closing down 1.05%, resilient against a 1.7% USD jump

  • Deficit and inflation fears on Trump gov't policies fuelled USD strength

  • Australian trade figures lead today's data - poll +5,300M - rarely impacts

  • Asia may be quieter into Federal Reserve and Bank of England rate decisions

  • Charts; 5, 10 & 21-day moving averages slip, 21-day Bollinger bands ease

  • Daily momentum studies flat-line - signals show a modest bearish setup

  • A close above 0.6639 21 DMA would target 0.6722 high on Oct 21

  • Wednesday's 0.6513 low and then 0.6475, 0.786% Aug/Sep rise first supports

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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