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Aug 04 - 10:55 PM

AUD/USD - 0.7056 Test Is Viable If Risk Appetite Holds

By Andrew M Spencer  —  Aug 04 - 08:45 PM

  • Off 0.2% early with the U.S. dollar and E-mini S&P futures a touch firmer

  • RBA's Statement on monetary policy will be released at 11.30 Sydney time

  • Report should provide few surprises, but the forecasts will be interesting

  • Charts; neutral momentum studies, fresh bearish 5 and 10 DMA cross

  • 10 and 21 day moving averages head higher with 21 day Bollinger bands

  • Net topside bias while 0.6895 21 day moving average holds

  • Targets a test of 0.7056, 38.2% of the entire 2022 April July fall

  • NY 0.6946-0.6982 range is initial support and resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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