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Dec 03 - 11:55 PM

AUD/USD - Softer Into U.S. Payrolls, Uptrend Still Solid

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

    For more click on FXBUZ

aud 2 dec 4 Click here

Source:
Refinitiv IFR Research/Market Commentary

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