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Sep 03 - 10:55 PM

AUD/USD - REFILE-BUZZ-AUD/USD-Softer Headline GDP, But Risk 'Off' Will Lead The AUD

By Andrew M Spencer  —  Sep 03 - 09:40 PM

Corrects typo in third line

  • AUS real GDP QQ +0.2% RTRS poll forecast +0.3%, YY 1% forecast +1%

  • AUD off 0.3% with soured risk appetite pre data -0.2% after the GDP

  • Stocks slide in Asia, Nikkei -3.3%, AsiaxJP -1.5% - risk not data lead AUD

  • 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

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

  • August 22nd 0.6697 base and the 0.6696 21 DMA are being tested

  • A close below the close 0.6696 21 DMA would end the topside bias

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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