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Jul 09 - 08:36 PM
AUD/USD - Underperforms Ahead Of Key Powell Testimony
First appeared on eFXplus on Jul 09 - 06:40 PM
  • AUD was the worst performing currency - falling 0.65% against USD
  • No reason for broad AUD weakness other than positioning ahead of Powell
  • Stops were triggered below 0.6950 in the AUD/USD with the low at 0.6919
  • Support at 61.8 of the 0.6832/0.7048 move at 0.6914
  • Resistance at former support at 21-day MA at 0.6949 and break eases pressure
  • Consolidation expected in Asia ahead of Powell testimony later today
  • AUD/JPY flows out of Tokyo after 0.5% fall key to AUD/USD direction in Asia

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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