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Jul 06 - 07:55 PM

AUD/USD - Softer Amid Continued US Tariff Confusion

By Andrew Spencer  —  Jul 06 - 06:58 PM

• Off 0.05% after closing down 0.3% on Friday, with the U.S. dollar off 0.15%

• ANZ job ads lead today's data risk, but are unlikely to move markets

• The RBA begins its rate deliberations today - markets expect a cut tomorrow

• The US July 9th tariff deadline appears to be flexible - confusion reigns

• Charts, 10 & 21-day moving averages climb, 21-day Bolli bands edge higher

• Daily momentum studies crest - net bullish setup - sellers around 0.6600 cap

• Key support levels: Last week's 0.6523 low, 0.6444 lower 21-day Bollinger

• Resistance levels: Tuesday's 0.6589 2025 top, then the 0.6687 Nov 2024 high

• A close below the rising 21-DMA at 0.6522 would undermine the uptrend
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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