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Aug 23 - 07:55 PM

AUD/USD - Circumspect Start As Upside Momentum Wanes

By Krishna K  —  Aug 23 - 06:00 PM
  • AUD/USD starts week on cautious note as recovery attempts fail above 0.7200

  • Weighed down by data showing a strong uptick in U.S. business activity

  • AUD rally from Mar low loses momentum, needs fresh catalyst for further rise

  • Perception grows that plenty of bad news built into current USD weakness

  • Effective unemployment in Australia to exceed 13% by end of SeptnL4N2FP055

  • Fed Chair Powell to speak on Fed's framework review Thursday nL1N2FM1N1

  • Support 0.7130-35, 0.7105-10; resistance 0.7185-90, 0.7205-10, 0.7225-30

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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