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Mar 07 - 10:55 PM

AUD/USD - Settles Around 0.7700 After Moving Higher Early

By John Noonan  —  Mar 07 - 09:42 PM
  • AUD/USD moved up to 0.7723 from the NY close at 0.7680 in early Asia

  • Move up due to positive weekend news and a 0.65% rise in E-minis at the open

  • The US Senate passed the aid bill and China released strong trade data nL4N2L602VnL2N2L30DQ

  • The AUD/USD ran out of momentum when the US 10-year yield rose close to 1.6%

  • E-minis gave back most of the early gains and went slightly negative

  • The AUD/USD settled around 0.7700 into the afternoon session

  • A close above the 55-day MA at 0.7718 would ease downward pressure

  • Key support is at the 38.2 of he 0.6990/0.8007 move at 0.7618

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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