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Oct 07 - 01:55 AM

AUD/USD - Bid At The Lower Levels - Focus Swings To The USD

By Andrew M Spencer  —  Oct 06 - 11:35 PM
  • +0.2%, bargain hunting into Tue's 1.1% fall in a busy 0.7095-0.7121 range

  • No data today after yesterday's feast of event risk - E-mini S&P flat

  • Charts, momentum studies, 10 & 21 DMAs edge lower modest negative setup

  • Bearish outside day needs a close under Tuesday's 0.7100 base to validate

  • 0.7209 - October high and 50% of the September fall is major resistance

  • NY afternoon 0.7155 high then NY 0.7169 top are first resistance

  • Earlier 0.7095 low then 0.7083, 61.8% Sep/Oct bounce are initial support

  • AUD bounce likely to be fleeting as USD and RBA cap nL1N2GY039

For more click on FXBUZ


aud3 oct 7 Click here

Source:
Refinitiv IFR Research/Market Commentary

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