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Aug 22 - 06:55 AM

AUD/USD - Helped North Towards 0.6450 By Iron Ore Strength

By Rob Howard  —  Aug 22 - 04:45 AM
  • AUD/USD rise to threaten 0.6450 (Thursday's high) aided by iron ore gains

  • See: nL1N3A30DD. Iron ore is Australia's biggest export earner

  • AUD also supported by China's moves to stabilise the yuan nL4N3A30UF

  • The Australian dollar often functions as a liquid proxy for the CNY

  • Resistance levels beyond 0.6450 include 0.6481 (August 16 high) and 0.65

  • Woodside says takes 'two to tango' on LNG strike talks nL4N3A304L

Source:
Refinitiv IFR Research/Market Commentary

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