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Aug 29 - 10:55 PM

AUD/USD - Muted Response To Soft Retail Sales

By Andrew M Spencer  —  Aug 29 - 09:40 PM
  • AUD steady at 0.6798 before the data and trades little change at 0.6793

  • Retail sales came in at flat - poll +0.3% - the high cost of living caps

  • Charts, 21-day Bollinger bans, 10 and 21-day moving averages climb

  • Mixed daily momentum studies at elevated levels - positive setup

  • The move targets 0.6871 Dec 23 high and then the 0.6900 July 23 top

  • 0.6767 10-day moving average and this week's 0.6861 low are initial supports

  • A close below 0.6750 would be a negative signal for next week

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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