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Oct 01 - 10:55 PM

AUD/USD - Recovers Some Ground But Upside Likely Limited

By Krishna K  —  Oct 01 - 09:50 PM
  • AUD/USD rallies 0.2% as Iran says it has finished attack on Israel

  • Risk aversion likely to limit rise amid fears of spreading M/East conflict

  • Israel and the U.S. promised to retaliate against Tehran's escalation

  • Waning upside momentum, strong chart resistances continue to weigh

  • China economic recovery optimism, higher-for-longer RBA rate stance support

  • Resistance 0.6900-05, 0.6920-25, support 0.6855-60, 0.6820-25

  • Strong resistance at 0.6949-62, 76.4% of Jan-Oct 2023 drop & 55-month MA

  • Wednesday range 0.6876-0.6902

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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