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Aug 23 - 07:55 PM

AUD/USD - Dips Early, But Faltering USD Will Provide Support

By James Connell  —  Aug 23 - 05:59 PM

• AUD/USD -0.2% from Fri 0.7180 high, but remains firmly on upwards trajectory

• Pair consolidating gains after breaking key 0.7130-35 resistance zone Fri

• U.S. Treasury's bond buyback plan undermines confidence in USD

• Collapse of U.S.-Canada trade deal revamps global anxiety on U.S. tariffs

• Iran threatens military response to latest U.S. sanctions, impasse persists

• RBA Aug monetary policy meeting minutes released 0130 GMT Tue

• AU Jul CPI due Wed, Reuters poll consensus +0.8% m/m, +3.2% y/y (headline)

• Range early Asia 0.7161-68 support 0.6920 0.6866, resistance 0.7200 0.7282
AUD Daily 55-DMA


DXY Daily 55-DMA


(James Connell is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters
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