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Sep 03 - 02:55 AM

AUD/USD - Continues To Move Lower As Red Ink Dominates

By Andrew M Spencer  —  Sep 03 - 12:50 AM
  • AUD slides into Europe - trades -0.85% at the base of a 0.6733/0.6792 range

  • Lower Asian and e-mini stocks, falling commodities, and higher UST yields

  • U.S. ISM Manufacturing PMI leads offshore event risk - RTRS poll 47.5

  • Charts, 21-day Bolli bands contract, 5, 10, and 21-day moving averages coil

  • Daily momentum studies crest at elevated levels - a modest positive setup

  • Today's 0.6792 top and last week's 0.6824 trend high are initial resistance

  • August 22nd 0.6697 base and the 0.6688 21 DMA are initial supports

  • A close below the 0.6689 21 DMA would end the topside bias

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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