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Aug 29 - 07:55 PM

AUD/USD - Quiet Start After Powell Led Reversal Higher

By John Noonan  —  Aug 29 - 05:54 PM
  • AUD/USD opens 1.0% higher after completing a bullish outside day reversal

  • Market responded positively to Fed Chair Powell's Jackson Hole speech nL1N2PY2C8

  • Off to a quiet start, as there wasn't any market moving news on weekend

  • AUD/USD above 21-day MA at 0.7303 - suggesting a bottom has formed

  • Minor resistance is at former support at 0.7315/20

  • Break above 0.7330 targets 0.7405/10 where 55-day MA and 38.2 fibo converge

  • Support is found at the 10-day MA at 0.;7237

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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