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Nov 03 - 11:55 PM

AUD/USD - Trades With Firm Tone Through The Asian Session

By John Noonan  —  Nov 03 - 11:08 PM
  • AUD/USD opened +0.27% at 0.7449 after getting lift following Powell comments nL1N2RU1R9

  • It moved up in early Asia on short-covering and AUD/JPY buying

  • The high was 0.7471 where it ran into some selling and dipped back to 0.7453

  • Buyers returned and it was trading just above 0.7460 into the afternoon

  • There wasn't any reaction to Aus retail sales or trade data nS9N2QH00PnAZN01RY2B

  • Resistance is at the 10-day MA at 0.7490 with sellers tipped above 0.7500

  • Support is at 21-day MA at 0.7443 and 38.2 fibo of 0.7170/0.7555 at 0.7408

  • Key to direction will be tone in equity and commodity markets

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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