By Andrew M Spencer — Dec 08 - 07:25 PM
Flat after closing off 0.1% with an inside day and moderate interest
No data or scheduled RBA speeches today, so risk and the USD to lead
E-mini S&P futures trade up just 0.1% - without news tight ranges likely
Uptrend stalled, but risk remains bid and the USD downtrend survives
Charts; daily, weekly and monthly 5, 10 & 21 MAs all trend higher
Next significant resistance is 0.7516, 76.4% of the 2018-2020 fall
Close below 0.7398 10 DMA, tested Monday would undermine topside bias
Solid positive setup, as resilient risk undermines safe haven USD
NY 0.7399 low and London 0.7435 high initial support-resistance
For more click on FXBUZ
aud dec 9 Click here
Source:
Refinitiv IFR Research/Market Commentary