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Jan 11 - 05:55 PM

AUD/USD - Opens Higher As USD Slips After Powell Testimony

By John Noonan  —  Jan 11 - 05:25 PM
  • AUD/USD opens +0.50% after Fed Chair Powell didn't spring any hawkish surprises nL1N2TR1FJ

  • US yields eased off recent highs and Wall Street staged a relief rally nL1N2TR2E1nL1N2TR2TV

  • AUD/USD closed above 0.7200 but held below the 10-day MA (0.7215 Tuesday)

  • The 10-day MA descends to 0.7211 today and a close above would be bullish

  • Resistance is at 0.7270/80 where 50% of 0.7555/0.6994 and Dec high converge

  • Short-term bias is bullish while Jan 7 low at 0.7130 holds on dips

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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