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Mar 24 - 05:55 PM

AUD/USD - Quiet Start After End Of Week Plunge

By John Noonan  —  Mar 24 - 05:30 PM
  • AUD/USD fell 0.84% on Friday and it is 1.8% below Thursday's 0.6634 high

  • Rise in USD/CNH, weak metals and broad USD strength weighing on AUD/USD nL2N3G00KFnL2N3G00OPnL2N3G01TO

  • AUD/USD support @ 0.6508, which is trend-line drawn from Oct 26 low @ 0.6330

  • A break below 0.6500 targets the Feb 13 low at 0.6443

  • Resistance is at 21-day MA at 0.6556 and 10-day MA at 0.6564

  • AUD/USD will likely track USD/CNH moves during the Asian session at least

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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