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Mar 11 - 11:55 PM

AUD/USD - Soft After A Strong Week - USD Leads

By Andrew M Spencer  —  Mar 11 - 10:24 PM
  • Trades at base of 0.7771-0.7801 range, decent volume once Asia in full swing

  • Asia maintained the upbeat offshore stance, but FX low key into the weekend

  • Bid local markets, Nikkei +0.95%, AsiaxJP +0.3%, E-mini S&P, UST yields flat

  • AUS-China trade relations continue to sour, timber in spotlight nL4N2KA1SV

  • Charts; momentum studies, 5, 10 & 21 DMAs base or rise - positive setup

  • 0.7786 21 DMA proving resilient - close above would be a bullish signal

  • NY 0.7737 low and 0.7814, 50% Feb-Mar fall are initial support, resistance

  • AUD is again a vehicle for global risk appetite and the USD leads at present

    For more click on FXBUZ

aud 2 mar 12 Click here

Source:
Refinitiv IFR Research/Market Commentary

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