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Jul 07 - 02:55 AM

AUD/USD - Recovers Lost Ground As Asian Markets Buoyant

By John Noonan  —  Jul 07 - 12:10 AM
  • AUD/USD opened -0.25% at 0.6783 after USD broadly rose with higher US yields

  • It fell to 0.6764 early Asia before bids ahead of 0.6758 support held again

  • Late morning AUD/USD broke above 0.6800 when equities commodities rallied

  • Lon copper bounced over 3.0% and Dalian iron ore surged nearly 5.0%

  • AUD/USD traded to 0.6820 and is near the highs into the afternoon

  • AUD/USD resistance is at the 10-day MA at 0.6864 and break eases pressure

  • Support @ 50% of the 0.5510/0.8007 move @ 0.6758 and it is proving stubborn

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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