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Feb 02 - 08:36 PM

AUD/USD - Bid With E-Minis, As Markets Brace For China's Return

By Andrew M Spencer  —  Feb 02 - 07:45 PM
  • +0.2%, as Asia awaits the return of the China markets, E-mini S&P +0.4%

  • China virus spreads, as authorities attempt to calm markets nL4N2A2005

  • December building approvals beat expectations at -0.2% poll -3%, no impact

  • Charts - momentum studies, 5, 10 & 21 DMAs track south - bearish setup

  • Initial significant support is the 0.6670 October and 2019 base

  • Close below 0.6670 targets 0.6248-63 - 2009 low & 76.4% 2001/2011 rise

  • Sustained 0.6724 break, 5 DMA would undermine the downside bias

  • Asian 0.6684/0.6701 range initial support-resistance

aud feb 3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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