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Aug 21 - 07:55 PM

AUD/USD - Quiet Start After Last Week's Tumble

By John Noonan  —  Aug 21 - 06:20 PM
  • AUD/USD a touch lower at 0.6870 after closing -0.56% at 0.6875 Friday

  • A strong USD and wobble, China concerns and wobble in risk assets weighed

  • AUD/USD fell 3.45% last week to end the short-term trend higher

  • Resistance is at the 21-day MA at 0.6978 and 10-day MA at 0.6991

  • Support is at the 61.8 of the 0.6682/0.7136 move at 0.6855

  • A break below 0.6850 opens the path to the year's 0.6682 low

  • Sentiment towards the AUD/USD is bearish ahead of Jackson Hole summit

  • Market expects Fed Chair Powell to be hawkish in his speech there on Friday

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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