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Jan 08 - 02:55 AM

AUD/USD - Little Changed After Surviving Early Selling Flows

By John Noonan  —  Jan 07 - 10:17 PM
  • AUD/USD opened 0.5% lower at 0.7768 after USD gained despite risk rally

  • Focus is on rising US yields, which is encouraging profit taking

  • The 10-year yield rose 2 BPs to 1.10% in Asia and AUD/USD dipped to 0.7741

  • Move down was short-lived and it settled above 0.7760 into the afternoon

  • Support is at yesterday's low at 0.7726 and the 10-day MA at 0.7691

  • Key support at the 21-day MA at 0.7621 and break would warn of top in place

  • Resistance has formed at 0.7815/20 where selling is tipped

  • Key today will be reaction to US non-farm payrolls

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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