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Feb 01 - 09:55 PM

AUD/USD - Upbeat Sentiment Supports - Caution Into US Payrolls

By Andrew M Spencer  —  Feb 01 - 07:10 PM
  • +0.1% after closing +0.05%, bouncing off 0.6508 in NY as UST yields fell

  • Upbeat US Tech results after the close, Nasdaq E-mini +0.9% E-mini S&P +0.5%

  • Tech results should provide underlying support for risk and the AUD in Asia

  • Asia usually trades tight ranges ahead of the often volatile U.S. jobs data

  • Charts; 5, 10 & 21 DMAs crest or fall as 21-day Bollinger bands contract

  • Daily momentum studies ease - the setup shows a modest downside bias

  • 0.6617 21-DMA and 0.6646 38.2% Dec-Feb fall are the first resistance

  • The 0.6508 London low and 0.6500 61.8% Oct-Dec climb are initial supports

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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