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Sep 06 - 01:55 AM

AUD/USD - Finds Support At Tuesday's Low But Still Vulnerable

By John Noonan  —  Sep 05 - 11:40 PM
  • AUD/USD opened -1.35% at 0.6378 after US yields soared and China fears grew

  • It came under pressure early Asia as USD/CNH moved above 7.32 nL1N3AI02P

  • Better than expected Aus Q2 GDP was ignored and AUD/USD eased to 0.6358 nL1N3AI028

  • It failed to break Tuesday's 0.6358 low and moved back to 0.6375/80

  • If AUD/USD breaks below 0.6350 - it targets the Oct 13 trend low at 0.6170

  • Resistance is at the 10-day MA at 0.6435 and 21-day MA at 0.6447

  • AUD will remain vulnerable while China concerns persist

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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