By John Noonan — Jul 21 - 12:05 AM
AUD/USD opened -0.17% at 0.6889 after EUR weakness led USD higher nL1N2Z11VI
AUD/USD was idled in Asia and only managed a 0.6880/98 range
Heading into the afternoon it is trading around 0.6890
Support is at the 21-day MA at 0.6843 and a break would increase pressure
Resistance is @ 55-day MA @ 0.6971 and 50% of 0.7282/0.6682 move @ 0.6982
Market is waiting for reaction to ECB meeting later today before committing
Resilient risk appetite and hawkish RBA expectations underpin AUD for now
Global growth uncertainty will likely cap exaggerated rallies
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary