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Aug 29 - 07:55 PM

AUD/USD - Resilient - A Test Of 0.6870/00 Remains Viable

By Andrew M Spencer  —  Aug 29 - 07:20 PM
  • Steady early after closing up 0.2%, resilient to a 0.35% USD rise

  • Month-end rebalancing flows were likely behind the offshore moves

  • Retail sales, housing credit, and private sector credit lead today's data

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

  • Daily momentum studies flat line at elevated levels - positive setup

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

  • 0.6767 10-day moving average and this week's 0.6861 low are initial supports

  • A close below 0.6750 would be a negative signal for next week

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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