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Jan 10 - 10:55 PM

AUD/USD - Trades Below 0.7700 In Rough Start To The Week

By John Noonan  —  Jan 10 - 09:53 PM
  • AUD/USD opened unchanged at 0.7767 before coming under pressure early

  • USD moved higher across the board as short positions continued to unwind

  • E-minis fell more than 0.60% adding more pressure on the AUD/USD

  • Some say Democrat plans to impeach Trump may hold up fiscal stimulus nL1N2JL07Z

  • It paused ahead of the 10-day MA at 0.7705 and settled around 0.7720

  • Selling returned later in the morning as risk assets came under pressure

  • AUD/USD traded down to 0.7693 before settling around 0.7705/10

  • Key support for the AUD/USD comes in at the 21-day MA at 0.7637

  • It has been above the 21-day since Nov 4 and break would warn of top forming

  • There wasn't any reaction to the stronger Aus retail sales nAZN0NVE00

  • For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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