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Aug 25 - 02:55 AM

AUD/USD - Fails To Rally Despite Positive News As Trend Tires

By Krishna K  —  Aug 25 - 01:50 AM
  • AUD/USD trades 0.7156-0.7182 range in Asia with rallies failing near 0.7200

  • Failure to rally despite buoyant risk mood points to waning upside momentum

  • News that U.S., China reaffirm commitment to Phase 1 trade deal shrugged off

  • Asian stocks approach 2-year high, AXJ currencies gain but AUD unmoved

  • Bulls reluctant to extend positions ahead of Powell speech ThursnL1N2FM1N1

  • Dovish expectations largely built in, increases risk of disappointment

  • Support 0.7130-35, 0.7105-10; resistance 0.7200-05, 0.7225-30

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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