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Thomson Reuters
Jul 04 - 03:48 AM
AUD/USD - Led Around By USD/CNY, But Data Weds Strong
First appeared on eFXplus on Jul 03 - 11:15 PM
  • AUD/USD starts to bounce on solid retail sales, then boosted by stronger CNY
  • AUD/USD tops out at 0.7424, drifts back down to 0.7402 when USD/CNY bounces
  • Next resistance the 0.7443/51 zone that covers late June highs and 38.2 Fibo
  • Close above 21 DMA at 0.7457 would be positive for further AUD gains
  • Support now at 5,10 DMAs at 0.7378/85, close below again opens downside
  • S/t MAs attempting to base, momentum studies supportive of recent rally

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