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Sep 24 - 01:55 AM

AUD/USD - Under Pressure As Support Level Gives Way

By John Noonan  —  Sep 23 - 11:35 PM
  • AUD/USD opened 1.35% lower at 0.7271 after equities and commodities sold off

  • Pair remained pressured in Asia breaking support at 0.7060/70 to 0.7047

  • Heading into the afternoon the AUD/USD is wobbling below 0.7050

  • The next level of decent support is at the 100-day MA at 0.7002

  • Factors impacting AUD turning decidedly negative as trend lower takes hold

  • Strong USD, high risk aversion and dovish RBA expectations weigh on AUD

  • The 5, 10 and 21-day MAs aligned in bearish formation and tilting lower

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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