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Aug 27 - 10:55 PM

AUD/USD - Early Gains Evaporate - More China Trade Issues

By Andrew M Spencer  —  Aug 27 - 09:05 PM
  • Flat after early AUD/JPY demand in Tokyo proved short lived

  • China halts beef imports from Aussie firm over banned substance nB9N2F8005

  • Victoria, the COVID-19 hot spot reports steady rise in cases nL4N2FT5B6

  • Modest market moves, Nikkei +0.1%, AsiaxJP flat and E-mini S&P +0.1%

  • Risk appetite and USD continue to drive - both factors support at present

  • Techs; momentum studies, 5, 10 & 21 DMAs edge higher - positive setup

  • The primary trend remains higher - targets a test of the 0.7295 2019 high

  • 0.7218 NY low and earlier 0.7270 high initial support-resistance


    For more click on FXBUZ

aud aug 28 Click here

Source:
Refinitiv IFR Research/Market Commentary

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