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Oct 24 - 02:36 AM
AUD/USD - Signals Point North, But Progress Needed Soon
First appeared on eFXplus on Oct 23 - 11:10 PM
  • Shade softer, after trading in a tight 0.6844/0.6857 range with low volumes

  • AUD/NZD was also quiet and trades up 0.15%, while AUD/JPY is off 0.2%

  • Buoyant local stocks, Nikkei +0.6%, AsiaxJP +0.3% and E-mini S&P flat

  • Charts - momentum studies, 5, 10 & 21 DMAs head higher - positive setup

  • Major resistance at 0.6880/95, cloud top & the September high

  • Significant risk 'on' news, or a USD collapse needed to break 0.6900

  • Yesterday's 0.6834 low then 0.6814 cloud base is initial support

  • NY 0.68538 NY low and earlier 0.6857 high first support/resistance

aud2 oct 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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