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Oct 10 - 11:55 PM

AUD/USD - Gives Back Early Gains As Sellers At 0.6450 Cap

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

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