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Aug 25 - 11:55 PM

AUD/USD - Gently Bid On Cross Flow, Despite Soft Stocks

By Andrew M Spencer  —  Aug 25 - 09:55 PM
  • +0.1% in a tight 0.7192-0.7208 range, bid with decent flow at the Asia open

  • EUR/JPY up 0.2% likely behind the early flows, extending Tuesday's 0.8% gain

  • Cautious Asia, Nikkei -0.1%, AsiaxJP -0.1%, ASX 200 -1.2%, E-mini S&P -0.1%

  • Construction work done fell 5.8%, against -5.1% forecast - modest impact

  • Techs; 5, 10 & 21 DMAs coil, momentum studies conflict - neutral setup

  • Price is in the middle of the mid August 0.7109-0.7275 range

  • NY 0.7167 low then London 0.7150 base are initial support

  • Friday's 0.7216 high then 0.7221 61.8% of last weeks fall resistance


    For more click on FXBUZ

aud aug 26 Click here

Source:
Refinitiv IFR Research/Market Commentary

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