By Andrew M Spencer — Oct 30 - 09:00 PM
AUD edged 0.1% lower in a muted response to the slew of mixed data
Building approvals beat forecasts - 4.4% vs 3%, export/import prices slipped
Retail sales missed expectations at 0.1% against 0.3% forecast
Charts; 5, 10 & 21-day moving averages fall, 21-day Bollinger bands contract
Daily momentum studies ease - the bearish setup remains in place
Wednesday's 0.6537 low then 0.6477 0.786% of the Aug-Sep rise first support
A sustained 0.6477 break would target a test of the 0.6348 August base
0.6621 10-day moving average, then the 0.6683 21-DMA are first resistance
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary