By John Noonan — Oct 10 - 11:00 PM
AUD/USD opened +0.33% at 0.6431 after USD fell due to easing US yields nL1N3BG26S
It was bid early Asia as AXJ index rose 1.30%
AUD/USD traded up to 0.6445 before 0.6450 sellers discourage buyers
USD/CNH moved higher and added some weight on the AUD/USD nL1N3BH03S
Heading into the afternoon AUD/USD trading at 0.6425/30
Resistance is at the 55-day MA at 0.6454 with sellers ahead of 0.6450
A break above 0.6455 target 38.2 of July/Oct fall at 0.6518
Support is at the 21-day MA at 0.6406 and 10-day MA at 0.6387
Short-term bias is for higher as Fed expectations less hawkish
Fed minutes and US PPI are the key events later today
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary