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Oct 19 - 07:55 PM

AUD/USD - Opens Higher As USD Weakens And Equities Rise

By John Noonan  —  Oct 19 - 06:09 PM
  • AUD/USD traded to a fresh 3-month high at 0.7485 as USD came under pressure nL1N2RF25C

  • US yields firmed late in NY and USD steadied - with AUD/USD at 0.7475

  • Sellers are tipped 0.7485/0.7500 and are capping price action for now

  • AUD/USD trending higher with the 5, 10 and 21-day MAs in bullish formation

  • Next resistance is 0.7555/65 where 50% of 2021 move and 200-day MA converge

  • Support is at yesterday's 0.7407 low and 10-day MA at 0.7389

  • Market eyeing RBA to see if they try to push 3-year bond yield lower

  • Rising yields despite dovish RBA has been a source of AUD strength

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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