CS with technical analysis for the Australian dollar, a snippet or two:
- essentially held support at 0.6520 last week
- 0.6659/6706 we expect to prove a tough barrier
- Post this, we are still biased towards weakness taking over again and see support initially at .6538, removal of which would open the door to a move back to the 21-day exponential average at .6520/06, where we expect to see fresh buying at first. Beneath here on a closing basis would negate the bull ‘triangle’ and reinforce the anticipated swing lower.
CS see resistance up through to 0.6706:
I am inclined to see how risk sentiment develops ahead as the main influence on AUD