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Jan 23 - 09:55 PM

AUD/USD - Upbeat Sentiment, Signals Suggest A 0.7091 Test

By Andrew M Spencer  —  Jan 23 - 07:30 PM

  • +0.05% after closing up 0.85% with improved risk appetite and higher stocks

  • Low key in early Asia as the Lunar New Year holidays limit activity

  • No significant Australian data or scheduled RBA events - USD, risk to lead

  • Charts; momentum studies and 21 day Bollinger bands head higher

  • 5, 10 & 21 day moving averages climb - positive trending setup

  • Targets a test of major resistance at 0.7091, 61.8% of the 2022 fall

  • NY 0.7040 high then last week's 0.7063 top first resistance

  • Close below last week's 0.6872 base would end topside bias

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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