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TDUX
Aug 07 - 07:55 AM

AUD/USD - Gripped By Long Shadows And Market Indecision

By Peter Stoneham  —  Aug 07 - 06:04 AM

• Enough uncertainty to keep ranges tight and direction limited into the w/e

• AUD/USD holding a 0.11% bid early Friday following Thursday weakness

• Levels to watch: 0.7015, 10-DMA, and 0.7052, 100-DMA

• Week's range 0.6984-0.7069: bias bullish for 0.7088 June 15 high

• Weekly long lower candle shadows are bullish: doji candles hint at indecision

• U.S. Jul non-farm payrolls (poll +80k) and unemployment (poll 4.2%) due Friday

• Middle East stability looks at risk, Brent extends gains 1.1% in Asia

• Focus turning toward next week's RBA meeting, dialogue will be critical
AUD/USD Daily Chart:


AUD/USD weekly chart:


(Peter Stoneham is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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