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Oct 24 - 07:55 PM

AUD/USD - Opens Lower As Fresh China Concerns Weigh On Sentiment

By John Noonan  —  Oct 24 - 05:35 PM
  • AUD/USD opens -1.28%, as AUD fell against every major currency

  • Fresh China concerns following 20th party Congress weighing on AUD sentiment

  • US listed shares of China companies crashed on concerns China government prioritising security over private sector growth nL4N31P2B2

  • AUD is a proxy for China sentiment, which continues to deteriorate

  • AUD/USD opens above 10-day MA at 0.6295 after bounce from 0.6272 low

  • Strong gains on Wall Street helped to cushion AUD/USD fall nL1N31P27P

  • Market will keep a close eye on Asian equities after EM ETF (EEM) fell 3.8%

  • AUD/USD resistance is at the 21-day MA at 0.6365 with sellers above 0.6400

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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