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Mar 25 - 07:55 PM

AUD/USD - Opens Higher As Move Lower In USD/CNH Underpins

By John Noonan  —  Mar 25 - 05:35 PM
  • AUD/USD opens +0.40% at 0.6540 as efforts to cap USD/CNH underpinned

  • USD broadly eased but AUD outperformed due to proxy role for China nL2N3G31KYnL2N3G3050

  • AUD/USD support is at 0.6510 where trend line from Oct 26 continues to hold

  • A clear break below 0.6510 targets Feb 13 low at 0.6643

  • Resistance is at 0.6555/60 where the 10 & 21-day MAs converge

  • A break above 0.6560 eases pressure and targets 0.6635/40

  • AUD/USD will likely track moves in USD/CNH in the immediate term

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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