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Aug 12 - 01:55 AM

AUD/USD - Stays Bid, Prepares For Test Of Resistance

By Krishna K  —  Aug 12 - 12:20 AM
  • AUD/USD +0.2% as Asian markets stay upbeat, follow Wall Street's lead

  • ASX 200 +0.5%, AUD/JPY +0.5% as investors tip-toe back into risk assets

  • RBA policy divergence from other major c.banks( BOJ excepted) supports AUD

  • Data on U.S. inflation, China July monthly activity , Aus jobs key this week

  • Rising geopolitical tensions may cap rally; M/East, Ukraine conflicts eyed

  • RBA underlines uncertainty about economy, policy forecasting

  • Strong resistance at 0.6598-0.6602, 100 & 200- day MAs; more at 0.6627

  • Supports 0.6550, 0.6525-30; Asia range 0.6565-0.6588

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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