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Oct 18 - 11:55 PM

AUD/USD - Positive Sentiment Supports, Key Resistance Caps

By Andrew M Spencer  —  Oct 18 - 11:15 PM

  • +0.1% in a tight 0.6307-0.6324 range - busy early then quiet on D3

  • Asian stocks took the positive lead from Wall Street, E-mini S&P +1%

  • Risk 'on' provided underlying support for AUD, but limited topside progress

  • Charts; positive momentum studies, 21 day Bollinger bands contract

  • 10 and 21 day moving averages fall - downtrend stalled as risk recovers

  • Trend channel top from mid September comes in close at 0.6341 today

  • Sustained break, or close above 0.6341 would be a strong positive signal

  • 0.6266 NY low then this week's 0.6207 base initial supports

    For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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