By Andrew M Spencer — Dec 03 - 07:40 PM
-0.1% in a slow start, with Asia cautious ahead of U.S. payrolls
Retail sales came in at +1.4% against +1.6% expected - little initial impact
Impact of the coronavirus and lockdowns has reduced the impact of data
Charts; daily, weekly and monthly 5, 10 & 21 MAs track north
Unusual and very bullish setup - safe haven USD weakens across the board
Next significant resistance is 0.7516, 76.4% of the 2018-2020 fall
Close below 0.7376 10 DMA, a base this week would undermine topside bias
London 0.7410 low and NY 0.7449 high is initial support-resistance
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aud dec 4 Click here
Source:
Refinitiv IFR Research/Market Commentary