By Andrew M Spencer — Oct 14 - 06:15 PM
Trades steady after closing down 0.4% with the U.S. dollar up 0.3%
USD is up 2.4% in October on resilient US data and 'soft landing' hopes
There is no Australian data today or RBA events, so risk, USD to lead AUD
Japan's return from the long weekend and Chinese sentiment lead in Asia
Charts; daily momentum studies ease, with 5, 10 & 21-day moving averages
21-day Bollinger bands gently expand - overall a modest downside bias
0.6723 55 DMA and 0.6716, 0.382% of the Aug-Sep rise are resilient support
Close below 0.6700 would target the 0.6627 200 DMA a base on September 11th
Resistance at 0.6810 - high last week & 21-day moving average likely caps
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary