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Jan 03 - 01:55 AM

AUD/USD - Remains Under Pressure In Cautious Asia Session

By John Noonan  —  Jan 02 - 10:10 PM
  • AUD/USD opened -0.72% at 0.6761 after rise in US yields underpinned USD nL1N3DS1GW

  • Pair remained offered in Asia and traded down to 0.6750 at one stage

  • Heading into the afternoon it was trading at 0.6755/60

  • Mood in Asia was gloomy as the AXJ equity index fell around 1.20%

  • AUD/USD support is at the 21-day MA at 0.6722

  • A break below 0.6720 targets the 38.2 of the Oct/Dec rise at 0.6641

  • Resistance is at former support at the 10-day MA at 0.6805

  • AUD/USD has gone from overbought to oversold on the daily slow stochastic

  • Position adjustments ahead of key US payrolls to dictate flows

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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