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Sep 01 - 03:55 PM

AUD/USD - Supported By Lower 21-D Bolli At 0.6777, 2022 Low 0.6683 Targeted

By Paul Spirgel  —  Sep 01 - 01:55 PM
  • AUD$ ending NY -0.8% at 0.6789 just abv session low; NY range 0.6835-0.6771

  • Commodities slide, rising US rates weighs on AUD, USD bid Pre-NFP Friday

  • AUD$ slips to 6-wk low sub-0.68 after upbeat U.S. layoff data nL1N3081R1

  • Support at lwr 21-d Bolli 0.6777, Thurs low 0.6771, Jul 15 low 0.6720

  • Res 0.6847 Thurs high, 0.6875 daily cloud base, 0.6890 10-DMA

  • Bears in control, bulls gain momentum abv 0.6957, 50% of 0.7136-0.6771

  • Hawkish RBA may temper further AUD weakness; China growth, glbl recession fears favor AUD weakness

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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