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Jul 08 - 08:36 PM
AUD/USD - Range Trading Expected With Bias For Lower
First appeared on eFXplus on Jul 08 - 06:15 PM
  • AUD/USD likely to consolidate ahead of Powell's testimony Wednesday
  • Support at the 21-day MA at 0.6953 with resistance at 10-day MA at 0.6996
  • Rallies likely to be sold, as US yields remain firm and risk assets on edge
  • There is increasing concern Powell won't meet extremely dovish expectations
  • AUD/JPY flows out of Tokyo and Asian equity markets to provide direction

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Refinitiv IFR Research/Market Commentary


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