By Andrew M Spencer — Dec 03 - 10:15 PM
-0.15% towards the base of a 0.7425-0.7443 range with modest interest
Softer on profit taking ahead of potential volatility around U.S. payrolls
Retail sales +1.4% against +1.6% expected - as Victoria eased restrictions
Uncertainty around coronavirus and lockdowns has reduced the impact of data
Charts; daily, weekly and monthly 5, 10 & 21 MAs all trend higher
Unusual bullish setup, driven by safe haven USD weakening across the board
Next significant resistance is 0.7516, 76.4% of the 2018-2020 fall
Close below 0.7375 10 DMA, a base this week would undermine topside bias
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Source:
Refinitiv IFR Research/Market Commentary