• FxWirePro: AUD/USD holds above 0.69 handle, upbeat Australia retail sales and China caxin services PMI to aid further gains

    Источник: FxWire Pro - Technicals / 05 июл 2020 12:57:43   America/New_York

    AUD/USD chart - Trading View 

    AUD/USD was trading 0.21% higher on the day at 0.6936 at around 06:40 GMT, bias remains bullish.

    Upbeat Australian Retail Sales and a sharp rebound in the Chinese Services PMI buoy Aussie bulls.

    Continuing surge in the coronavirus cases globally, however, remains a drag on the antipodeans.  

    Technical bias for the pair is bullish. Scope for gains till upper weekly Bollinger band at 0.7111.

    Price action hovers around strong resistance at 110W EMA at 0.6932. Decisive break above will see upside continuation. 

    On the flipside, 21-EMA is strong support at 0.6866. Minor weakness on break below. Major weakness only on breach below 200-DMA.

    Major Support - 0.6866 (21-EMA)

    Major Resistance - 0.6932 (110W EMA)
     

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