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May 25 - 07:55 PM

AUD/USD - Opens Lower On Firmer USD But Bounces From Technical Support

By John Noonan  —  May 25 - 06:50 PM
  • AUD/USD firm in early Asia after bouncing from support between 0.7010/40

  • USD moved broadly higher before easing late in the US session

  • China growth concerns added weight following comments from Premier Li nL2N2XH0TT

  • AUD/USD traded below 21-day MA at 0.7040 - but closed above that reading

  • Support today is at 0.7039 where the 10 & 21-day MAs converge

  • A close below those reading would suggest recent recovery has run its course

  • Resistance is at the 38.2 of the 0.7661/0.6829 move at 0.7146

  • Australia CAPEX is out today with the market expecting +1.5%

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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