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Sep 02 - 08:55 PM

AUD/USD - Resilient, But The Uptrend Needs A Fresh High Soon

By Andrew M Spencer  —  Sep 02 - 07:50 PM
  • Off 0.05% after closing up 0.4% - resilient, with the U.S. dollar down 0.1%

  • Current account and Net exports lead today's data - unlikely market moving

  • US and Canadian holidays on Monday - AUD to move with risk appetite in Asia

  • Charts, 21-day Bollinger bands contract, 10 and 21-day moving averages climb

  • Mixed daily momentum studies at elevated levels - a net positive setup

  • The uptrend targets 0.6871 Dec 23 high and then the 0.6900 July 23 top

  • Friday's 0.6752 low and then August 22nd 0.6697 base are initial supports

  • Uptrend stalled and a close above the 0.6824 August high is needed soon

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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