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Mar 02 - 08:55 PM

AUD/USD - Downtrend On Hold - Waiting For The Next Trigger

By Andrew M Spencer  —  Mar 02 - 07:20 PM

  • Steady after falling 0.45% - USD led as inflation fears forced UST yields up

  • Asia likely take Wall Street's positive lead supporting risk appetite

  • ASX 200 +0.35%, E-mini S&P -0.15% - mixed messages suggest range trading

  • Charts; momentum studies conflict, while 21 day Bollinger bands contract

  • 10 and 21 day moving averages head lower - setup remains bearish

  • AUD has traded a 0.6695-0.6782 range this week which looks set to hold

  • Break above 0.6779 10 day moving average would be positive for next week

  • Sustained break of 0.6664, 50% 2022-2023 rise would trigger next leg south

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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