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Dec 17 - 11:55 PM

AUD/USD - Softer With A Stronger USD And Risk Profit Taking

By Andrew M Spencer  —  Dec 17 - 10:20 PM
  • -0.25%, profit taking - risk off in Asian stocks, E-mini S&P futures -0.15%

  • Trades towards the base of a 0.7597-0.7628 range with moderate interest

  • Sydney faces growing COVID-19 cluster on the northern beaches nS9N2HX00L

  • Charts; 5, 10 & 21 daily, weekly and monthly moving averages trend north

  • Major long term 0.7638 target, 38.2% 2011-2020 fall capped offshore

  • Profit taking to be expected ahead of the holiday season and year end

  • Sustained 0.7640 break would initially target 0.7677 June 2018 high

  • Close below 0.7525, 10 DMA a base on this move, would undermine bias

For more click on FXBUZ


aud 2 dec 18 Click here

Source:
Refinitiv IFR Research/Market Commentary

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