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Sep 04 - 02:36 AM
AUD/USD - Resilient Base Below 0.6700 - Close Significant
First appeared on eFXplus on Sep 04 - 12:40 AM
  • +0.2% - busy at the Asian open, extending offshore 0.7% short squeeze
  • Bullish outside day yesterday would be validated by a close above 0.6764
  • Today's break of the 0.6726 21 DMA, which capped since late July is positive
  • GDP on forecast at 0.5%, but outlook soft & gov't won't spend nL3N25U4E2
  • Third rejection below 0.6700 in the last month leaves a solid 0.6675/90 base
  • 5, 10 & 21 DMAs reflect a bottom is forming, weekly and monthly are bearish
  • Today's 0.6755/0.6783 range is initial support/resistance

aud sep 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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