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Oct 20 - 07:55 PM

AUD/USD - Trend Higher Continues With Key Resistance In Sight

By John Noonan  —  Oct 20 - 06:23 PM
  • AUD/USD gained another 0.52% and is comfortably above 0.7500 as Asia opens

  • Buoyant equity & commodity markets underpin, as high Aus yields also support nL1N2RG2X4

  • Key resistance at 0.7555/65 in focus as the first objective of trend higher

  • The 50% retrace of the year's high/low is at 0.7556 and 200-day MA at 0.7565

  • Support is at former resistance at 0.7475/85 and 10-day MA at 0.7414

  • Key will be whether Aus bond yields continue to outpace rise in US yields

  • Lofty AUD/USD levels leave it susceptible to a negative mood change in risk

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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