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Apr 18 - 10:55 PM

AUD/USD - Softer As Risk Sours - 0.7673 Key Support

By Andrew M Spencer  —  Apr 18 - 08:33 PM

  • Off 0.3%, as risk sours in Asia, E-mini S&P -0.3%, Nikkei -0.35%

  • COVID-19 expands in Japan nL4N2M7199 and surges in India nL1N2MB01E

  • No Australian data or RBA activity, so risk appetite and the USD lead

  • Techs; momentum studies flat line 5 & 10 DMAs climb - net positive setup

  • 0.7754 upper 21 day Bolli band caps - good indicator of an overbought market

  • 0.7769, 50% of the 2021 fall just above, so resistance likely resilient

  • 0.7673, 38.2% April rise and the 10 DMA is key support

  • Asian 0.7712-0.7732 range is initial support resistance

For more click on FXBUZ


aud apr 19 Click here

Source:
Refinitiv IFR Research/Market Commentary

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