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Aug 29 - 11:55 PM

AUD/USD - Uptrend In Play After Shrugging Off Soft Data

By Andrew M Spencer  —  Aug 29 - 11:30 PM
  • Trades up 0.05%, in a tight 0.6790-0.6802 range, quiet at month end

  • July retail sales were flat, missing the forecast +0.3 - muted response

  • Tax cuts failed to entice shoppers, as the high cost of living capped

  • RBAWATCH prices 21.8pts in December cuts from 26.2pts at last Friday's close

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

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

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

  • 0.6789 10-day moving average and this week's 0.6761 low are initial supports

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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