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Sep 01 - 10:55 PM

AUD/USD - Bargain Hunting, But Charts Suggest 0.6682 Vulnerable

By Andrew M Spencer  —  Sep 01 - 08:40 PM

  • +0.2% on bargain hunting into Thursday's 0.85% fall - USD a touch softer

  • No AUD data or scheduled RBA speeches, so risk appetite and the USD to lead

  • Tight range likely in Asia ahead of the often volatile U.S. jobs data

  • Charts; 5, 10 & 21 day, week and month moving averages head south

  • 21 day Bolli bands expand, momentum studies slip - bearish trending setup

  • Longer term target is a test of 0.6682, the July and 2022 base

  • Close above 0.6910, 38.2% of the August-September fall would be positive

  • 0.6771 New York low, and 0.6846 London high initial support and resistance

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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