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May 13 - 05:00 AM

AUD/USD - Respects 0.65 After Lift From Ban News-Spurred Low

By Rob Howard  —  May 12 - 05:20 AM
  • 0.6495 is the high water-mark for AUD/USD since it slid to 0.6432 in Asia

  • Drop to 0.6432 spurred by China halting beef imports from 4 Aussie abattoirs

  • See: nL4N2CU16T. 0.6432 = lowest level since Thursday (May 7)

  • AUD/USD also topped out by 0.65 after rallying off 0.6456 (Monday's low)

  • 0.6497 = 50% retracement of 0.6562 (Monday's May high) to 0.6432

  • There are big 0.6500 option expiries on Wednesday and Thursday nL1N2CU0AI

AUDUSD IMAGE Click here

Source:
Refinitiv IFR Research/Market Commentary

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