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Firms Back Above 20-Day EMA

AUD

AUD/JPY unwound early losses on Monday to firm back above the 20-Day EMA (¥95.00), the move off session lows came alongside rising US Equities after balanced Fedspeak saw risk appetite improve in the NY session.

  • In early dealing this morning the pair sits at ¥95.15/20, little changed from opening levels.
  • The uptrend remains intact, bulls target a break of the high from 6 Oct (¥95.56), this opens high from 2 Oct (¥96.42) and high from 29 Sep (¥96.92).
  • On the downside bears immediate focus is on the 20-Day EMA. A break through here opens the low from 4 Oct (¥93.79) and the 200-Day EMA (¥93.22).
  • Data-wise the docket is light today, from Australia we have Oct Westpac Consumer Confidence and Sep NAB Business Survey. Japan's Aug Trade Balance and the Sep Eco Watchers Survey is also due.
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