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Sep 02 - 10:55 PM

AUD/USD - External Factors Support - Key Resistance Caps

By Andrew M Spencer  —  Sep 02 - 08:59 PM

  • Flat after closing up 0.5% with the softer USD and risk currency strength

  • No local data or scheduled RBA events, so tight range likely pre US payrolls

  • Australia's COVID-19 reopening timing in doubt, as states argue nL1N2Q42TT

  • Reopening essential but will generate broad social and economic uncertainty

  • Charts; momentum studies, 5, 10 & 21 DMAs base or rise - positive setup

  • 0.7406, 38.2% May-August fall tested Thursday, remains major resistance

  • Break targets solid 0.7450, 38.2% 2021 Feb-Aug fall, upper 21 day Bolli band

  • NY 0.7382-0.7409 range is initial support and resistance

For more click on FXBUZ


aud Sep 3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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