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Sep 01 - 08:55 PM

AUD/USD - Uptrend Stalled - Bulls Need Progress Soon

By Andrew M Spencer  —  Sep 01 - 08:00 PM
  • Up 0.1% early after falling 0.5% on Friday with the USD up 0.35%

  • Building approvals poll 2.5%, Business inventories -0.5%, profits -0.09%

  • Data will be significant as the housing shortage is a high-profile topic

  • Charts, 21-day Bollinger bands, 10 and 21-day moving averages climb

  • Mixed daily momentum studies at elevated levels - positive setup

  • The move targets 0.6871 Dec 23 high and then the 0.6900 July 23 top

  • Friday's 0.6752 low and then August 22nd 0.6705 base are initial supports

  • Uptrend stalled and a close above the 0.6824 trend high is needed soon

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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