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Jan 05 - 07:55 PM

AUD/USD - Steady After Closing Higher On Buoyant Risk Appetite

By Andrew Spencer  —  Jan 05 - 05:45 PM

• Steady early after closing up 0.25% with the U.S. dollar off 0.3%

• AUD bid offshore as risk appetite returned, led by a bounce on Wall Street

• There is no Australian data today so risk appetite and the USD lead AUD/USD

• Charts: 21-day Bollinger bands slip, oversold momentum studies base

• 5, 10 & 21 daily, and weekly moving averages trend lower - a bearish setup

• The 0.6170 2022 low holds - break would target 0.5980 April 2020 base

• The 0.6274 Dec 20th high and 21 DMA is the pivotal short-term resistance

• A sustained break of 0.6274 would initially target the 0.6382 Dec 13th high
Andy


(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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