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May 21 - 05:00 PM

AUD/USD - Trending Higher Ahead Of Strong Resistance

By John Noonan  —  May 20 - 06:25 PM
  • AUD/USD opens 0.93% higher after risk assets rallied on investor optimism

  • It traded to a two month high at 0.6616, as NZD and AUD outperformed

  • There is strong resistance between 0.6660/0.6685 that may prove difficult

  • 200-day MA is 0.6662, 76.4 of 0.7032/0.5510 @ 0.6672 and Mar 9 high @ 0.6685

  • Support is at former resistance at 0.6560/70 and 10-day MA at 0.6507

  • Key today will be AUD/JPY flows after cross gained 0.80%

  • RBA Governor Lowe speaks today, but unlikely going to be a market mover










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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