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Aug 12 - 11:55 PM

AUD/USD - Drifts Higher As USD Offered In Asia

By John Noonan  —  Aug 12 - 11:31 PM
  • AUD/USD opened -0.47% at 0.7337 after USD gained on hot US PPI nL1N2PJ22X

  • After trading at 0.7330 the AUD/USD tracked higher through the morning

  • It traded as high as 0.7347 before settling around 0.7340

  • USD was broadly offered in Asia due to position adjustments, not news

  • AUD/USD forming a pennant with the top at 0.7373 and bottom at 0.7321

  • Resistance is at 0.7360/65 where the 10 & 21-day MAs converge

  • Support is at a double-bottom at 0.7315/20

  • AUD likely to weighed down by Australia lockdown and weak China demand

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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