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Oct 05 - 11:55 PM

AUD/USD - Bounces Higher As Upbeat Tone Weighs On USD

By John Noonan  —  Oct 05 - 11:15 PM
  • AUD/USD opened -0.18% @ 0.6490 after recovering in NY when risk bounced from lows

  • After a quiet start, the AUD/USD was dragged up by a surge higher in NZD/USD

  • Talk of AUD/NZD selling tempered AUD/USD gains and NZD/USD rose 0.95%

  • AUD/USD traded as high as 0.6539 - up around 0.75% from the Wednesday close

  • Move up started when E-minis rose over 0.60% at one stage

  • Market brushed off slightly worse than expected Aus trade data nAZN0LZ8H6

  • It is trading at session high at 0.6535/40 heading into the afternoon

  • Sellers are tipped ahead of 0.6550 with resistance @ the 21-day MA @ 0.6617

  • Bids are lined up ahead of 0.6400 with support at the 0.6363 trend low

  • AUD direction will depend on the extent of the risk asset correction higher

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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