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Aug 18 - 10:55 PM

AUD/USD - Lower Early As Fed Fuelled USD Strength Extends

By Andrew M Spencer  —  Aug 18 - 08:40 PM

  • Off 0.25% this morning on broad based USD strength - =USD trades up +0.15%

  • Generally hawkish Fed comments around FOMC were USD positive nL1N2ZU1MK

  • No Australian data or RBA events, so the U.S. dollar to lead intraday

  • E-minI S&P -0.1%, 2yr UST yields +1bp 3.216% - tight FX ranges likely

  • Charts; 5, 10 & 21 day moving averages crest or rise, 21 day Bolli's expand

  • 0.6855-59, 61.8% July-August rise and lower 21 day Bollinger band supports

  • Bearish trending setup while 0.6982 21 day moving average caps

  • Initial target is the 0.6870 August low.

For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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