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Mar 26 - 09:48 PM

AUD/USD - Risk Supports, Charts Suggest Choppy Range Trading

By Andrew M Spencer  —  Mar 26 - 08:30 PM
  • +0.1% in a low key session - modest volumes ahead of weekend uncertainty

  • E-mini S&P +0.5%, Nikkei +3.4% and Asiax JP stocks +0.9% - positive risk

  • Trump to receive new coronavirus recommendations this weekend nL1N2BJ3K2

  • Charts; positive momentum studies and a bullish 5& 10 DMA cross

  • 10 & 21 daily, weekly and monthly MAs track south, so conflicting signals

  • This setup usually results in choppy range trading - perhaps 0.5700-0.6200

  • 0.6097, 50% of the March fall then 0.6229/36, 61.8% & 21 DMA resistance

  • Yesterday's 0.5870 low then this week's 0.5699 base support

aud mar 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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