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May 23 - 11:55 PM

AUD/USD - Dips Below 0.7070 As Weak Equities And China Concerns Weigh

By John Noonan  —  May 23 - 11:00 PM
  • AUD/USD fell to 0.7066, as Asia downbeat despite strong Wall Street lead

  • AXJ equity index -0.67%; E-minis -0.80% and Nikkei down 0.50%

  • China optimism fading after glum China growth forecasts from major banks nL3N2XF3MH

  • AUD/USD support is at the 21-day MA at 0.7041 and 10-day MA at 0.6998

  • A close below the 10-day MA puts trend low at 0.6829 back in focus

  • Resistance is at the 38.2 of the 0.7661/0.6829 move at 0.7146

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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