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Oct 29 - 07:55 PM

AUD/USD - 0.7000 Holds For Now But Risk Of Break Grows

By Krishna K  —  Oct 29 - 05:40 PM
  • AUD/USD opens 0.25% lower, maintains tenuous hold above support at 0.7000

  • Undermined by concerns over rising wave of virus infections in Europe & U.S.

  • Better than expected U.S. economic data & rising U.S. yields weigh

  • U.S. election uncertainty sparks flight to safe haven USD nL1N2HK0LP

  • Position squaring to dominate ahead of RBA, U.S. election on November 3

  • Support at 0.7000, break opens 0.6965, 0.6925-30; resistance 0.7050, 0.7075

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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