By Richard Pace — Sep 01 - 06:00 AM
AUD/USD unable to break above 0.6500 after PBOC cut RRR to stabilise Yuan
Setback to 200-hour moving average support 0.6446 early London, last 0.6475
Close above broken 23.6% Fibo .6895-.6365 drop .6490 can target 38.2% .6567
But, sellers touted above 0.6500, resistance Thur/Wed peaks 0.6508-22
Bigger support Tues lows 0.6401. Market awaiting U.S. jobs/NFP data Friday
Weaker data likely needed to give AUD/USD bulls some fresh impetus
FX option premiums peak but still wary of spot volatility and setbacks
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary