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Dec 23 - 08:55 PM

AUD/USD - Holds Wednesday's Gains, As Uptrend Hangs In

By Andrew M Spencer  —  Dec 23 - 07:04 PM
  • Flat after closing up 0.8%, with positive risk and a lower USD

  • Dalian iron ore was off 11% Wednesday from Monday's record high nL1N2J30CI

  • Further losses to cap AUD, but outlook for metals is positive nL1N2J30T4

  • Charts; momentum studies, 5 DMA slip, 10 & 21 daily moving averages climb

  • Mixed signals with uptrend stalled - USD likely to lead the next move

  • Rising 21 DMA a base Monday - now pivotal support at 0.7488

  • 0.7639 December trend high and 38.2% 2011-2020 fall significant resistance

  • NY 0.7534-0.7592 range first support-resistance


    For more click on FXBUZ

aud dec 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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