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Jun 21 - 10:55 PM

AUD/USD - Choppy Morning, As RBA Optimism Fuels Recovery

By Andrew M Spencer  —  Jun 21 - 10:25 PM
  • Touched 0.6801 early - rebound in Victorian coronavirus cases nL4N2DY01V

  • Dip short lived, as RBA's Lowe said rising AUD not yet problem nL4N2DZ062

  • Better than expected health, commodity and economic recovery, support AUD

  • Charts - momentum studies edge lower, 5, 10 & 21 DMAs conflict-coil

  • Neutral setup - close below 0.6836 21 DMA would be a bearish signal

  • Soft close would target a return to the 0.6665 200 DMA, which capped in May

  • Friday's 0.6911 high then last week's 0.6977 top key resistance

  • AUD 220 MLN 0.6790/0.6800 strikes provided a base earlier

aud jun 22 Click here

Source:
Refinitiv IFR Research/Market Commentary

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