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Oct 14 - 07:55 PM

AUD/USD - Solid Gains - Positive Setup Targets September High

By Andrew M Spencer  —  Oct 14 - 06:37 PM

  • Touch firmer, closed up a solid 0.5% with strong commodities and Wall Street

  • There is no significant data or scheduled RBA activity - risk and USD leads

  • Charts, momentum studies, 5, 10 & 21 day moving averages rise

  • 21 day Bollinger bands expand, which is a bullish trending setup

  • 0.7413 upper 21 day Bolli band is a good indicator of an overbought market

  • Upper Bollinger suggest buying dips rather than breaks at this point

  • Move targets a test of the September high at 0.7477

  • NY 0.7409-0.7426 range is initial support and resistance

For more click on FXBUZ


aud Oct 15 Click here

Source:
Refinitiv IFR Research/Market Commentary

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