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Dec 12 - 05:55 PM

AUD/USD - Opens Lower On Higher US Yields & China Demand Concerns

By John Noonan  —  Dec 12 - 05:20 PM
  • AUD/USD opens -0.74% as higher US yields and China demand concerns weighed

  • Worries over China Covid dilemma sent NY copper sliding over 2.0% nL1N3320GL

  • AUD weakened against most currencies despite strong gains on Wall Street

  • Much of the price action was positioning ahead of US CPI and FOMC meeting

  • AUD/USD closed below 10-day MA at 0.6757 with support at 21-day MA @ 0.6727

  • Sellers are tipped above 0.6800 with resistance at double top around 0.6850

  • Consolidation likely in Asia ahead of key events this week

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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