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Jan 15 - 09:55 PM

AUD/USD - Risk Off - Key Support Breaks - Targets 0.6571

By Andrew M Spencer  —  Jan 15 - 08:10 PM
  • Off 0.6% as the soured offshore risk appetite extends in Asia

  • E-mini S&P -0.35%, Nikkei -0.55%, AsiaxJP -0.8%, S&P ASX 200 -1.25%

  • Central banks pushing back against early rate cuts is a major factor

  • Soft Australian consumer sentiment seemed to prompt the initial move

  • Charts; daily momentum studies ease, 5, 10 & 21 day moving averages slip

  • 21-day Bollinger bands expand - signals now show a strong negative setup

  • Well tested 0.6641, 38.2% of the Oct/Dec rise has broken - a bearish signal

  • Targets a test of 0.6571, 50% of the October/December rise

  • This morning's 0.6660 Sydney high is initial resistance

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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