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Sep 20 - 07:55 PM

AUD/USD - Opens Little Changed Despite Mounting Negative Fundamentals

By John Noonan  —  Sep 20 - 06:23 PM
  • AUD/USD opens -0.14% after showing remarkable resiliency

  • Steep falls in stocks, commodities and EM having minimal impact nL1N2QM29InL1N2QM063nL1N2QM0BK nL1N2QM1MT]

  • Fears of financial contagion in China also not severely undermining AUD nL1N2QM03G

  • AUD/JPY opens -0.69%, but move lower is orderly considering fundamentals

  • AUD resiliency surprising and must be due to short market or corporate buying flows

  • AUD/USD support is at 76.4 of 0.7106/0.7477 move at 0.7192

  • Resistance is at the 10-day MA at 0.7318 and break would ease pressure

  • RBA minutes today, but should be a non-event For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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