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Dec 08 - 08:55 PM

AUD/USD - In A Holding Phase, But Risk And AUD Still Resilient

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

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