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Oct 05 - 01:55 PM

AUD/USD - Key Fibo, Daily MAs Stall Bulls Ahead Of The RBA

By Christopher Romano  —  Oct 05 - 12:05 PM
  • Rally off Oct 1 daily low extends today, RSIs imply bull momentum

  • 50% Fibo of 0.7413-0.7004, 21- & 55-DMAs help stem the bulls though

  • Short-term structural resistance above 0.7200 is holding for now

  • RBA meeting risk looms, investors expect rates to be kept on hold

  • Statement is key though, rhetoric might lay ground work for a future cut

  • Bears target sub-0.7000; break of 10-DMA, cloud base may ignite that move

  • For more click on FXBUZ






aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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