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Nov 19 - 09:55 PM

AUD/USD - Getting Support From Move Lower In USD/CNH

By John Noonan  —  Nov 19 - 09:20 PM
  • AUD/USD trading with a bid tone and moved as high as 0.6527

  • Move higher coincided with move lower in the USD/CNH after PBOC fix nL1N3CL04V

  • Asian equity markets are steady to higher and helping AUD sentiment nL1N3CL00V

  • AUD/JPY buying before Tokyo fix also helped to underpin AUD/USD

  • AUD/USD resistance is at last week's 0.6542 high where selling is tipped

  • Key resistance @ 0.6580/95 where the 200-day MA converges with 50% of July/Oct fall

  • Support is at the 10-day MA at 0.6446 with bids ahead of 0.6450

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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