By Andrew M Spencer — Aug 21 - 07:20 PM
Up 0.1% early after closing down 0.04% with the U.S. dollar off 0.2%
Buoyant offshore risk appetite saw AUD make a brief 4th higher daily high
Lower UST yields and building confidence toward Fed rate cuts underpin risk
Judo Bank MFG PMI MFG 48.7 from 47.5, Svs 52.2 from 50.4 Comp 51.4 from 49.9
Charts; 5, 10 & 21 day, week moving averages climb - mixed momentum studies
21-day Bollinger bands expand - overall a strong positive trending setup
Wednesday's 0.6761 high, then the 0.6798 July trend top are first resistance
Close below 0.6666/64 low this week and 10-DMA would end the topside bias
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Source:
Refinitiv IFR Research/Market Commentary