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Dec 20 - 02:55 AM

AUD/USD - Whippy Price Action After BOJ Hawkish Surprise

By John Noonan  —  Dec 19 - 10:40 PM
  • AUD/USD opened +0.19% at 0.6699 after USD broadly eased in quiet trading nL1N3391ND

  • It traded down to 0.6687 with slightly dovish RBA minutes weighing nS9N32B00B

  • It was around 0.6705 when BOJ surprised with a hawkish policy tweak nL1N33A063

  • USD/JPY plunged and dragged USD broadly lower initially

  • AUD/USD surged to 0.6743 before AUD/JPY selling took control of price action

  • AUD/USD fell back to 0.6685/90 - as the USD/JPY kept falling

  • AUD/JPY is currently down nearly 2.5% since the BOJ decision

  • AUD/USD resistance at 21-day MA at 0.6741 and 10-day MA at 0.6753

  • Support is at the 100-day MA at 0.6665 where bids are tipped

  • AUD/JPY flows likely to dominate AUD/USD direction for now

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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