By Paul Spirgel — Mar 08 - 01:20 PM
AUD$ soft into NY close, +0.15% at 0.6598, Wed range 0.6628-0.6568
Pair rallied off 2023 low 0.6568 after Fed's Powell softened Tues stmt
Fed's Powell: No call made yet on size of March rate rise nW1N32Z026
AUD/USD rises away from 2023 low as shorts lighten ahead of upcoming data
Supt 0.6592 lwr 30-d Bolli, 0.6568 2023 daily low Mar 8, 0.6547 minor Fib
Res 0.6613 upper 30-hr Bolli, 0.6628 Wed high, 0.6717 10-DMA
AUD bears in control below 0.6799, 50% Fib of 0.7030-0.6568
Bulls need a close abv 10-DMA res at 0.6717 to stall bearish momentum
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Source:
Refinitiv IFR Research/Market Commentary