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Mar 27 - 02:36 AM

AUD/USD - Resilient As E-Minis Slip, 0.6230 Likely Caps Topside

By Andrew M Spencer  —  Mar 26 - 10:50 PM
  • +0.4%, holding up well with E-mini S&P -1.3% and the ASX 200 -2.3%

  • No significant news, thin markets into the weekend - 0.6035-0.6105 range

  • Federal and state leaders meet to discuss coronavirus measures nL4N2BJ5I4

  • Charts; positive momentum studies and a bullish 5 & 10 DMA cross

  • 10 & 21 daily, weekly and monthly MAs track south, so conflicting signals

  • This setup usually results in choppy range trading - 0.5700-0.6200 possible

  • 0.6097, 50% March fall tested - 0.6231, 61.8% & 21 DMA major resistance

  • Earlier 0.6035 low the yesterday's 0.5870 base initial support

aud 2 mar 27 Click here

Source:
Refinitiv IFR Research/Market Commentary

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