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Sep 22 - 07:55 PM

AUD/USD - Opens Slightly Higher As Risk Rallies Despite Hawkish Fed

By John Noonan  —  Sep 22 - 06:18 PM
  • AUD/USD opens 0.12% higher after AUD outperformed most major currencies

  • Receding fears that Evergrande will default supported risk currencies nL1N2QO1IT

  • Commodity and equity rally sent AUD/JPY 0.65% higher nL1N2QO0MWnL1N2QO2XH

  • Gains in risk assets were maintained despite more hawkish than expected Fed nL1N2QN1LU

  • AUD/USD fell from 0.7296 high when USD firmed after Powell press conference

  • Resistance at 10-day MA, which was 0.7303 yesterday and 0.7290 today

  • Break above 10-day MA would shift pressure to the upside

  • Support has formed at 0.7220/25 where bids are tipped

  • A break below 0.7220 targets 76.4 fibo at 0.7194

  • Ongoing Evergrande saga likely to impact AUD sentiment in short-term

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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