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Aug 22 - 07:55 PM

AUD/USD - Opens Lower After A Broad Base Offshore Correction

By Andrew M Spencer  —  Aug 22 - 07:05 PM
  • Steady early after closing off 0.6%, as the U.S. dollar bounced 0.4%

  • USD bounce due to short covering ahead of tonight's Jackson Hole Symposium

  • U.S. data suggests the economy is cooling, and Fed policymakers agree

  • No major Aus data, regional stocks/risk to follow the fall on Wall Street

  • Charts; 5, 10 & 21-day, week moving averages climb - mixed momentum studies

  • 21-day Bollinger bands rise - dip has not changed the positive setup

  • Wednesday's 0.6761 high, then the 0.6798 July trend top are first resistance

  • 0.6673 10 DMA and this week's 0.6666 base are the first supports

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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