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Nov 08 - 05:55 PM

AUD/USD - Opens Higher As USD Strength Fades And Stocks Stay Bid

By John Noonan  —  Nov 08 - 05:30 PM
  • AUD/USD opens +0.30% after USD eased against most currencies nL1N2RZ295

  • Risk currencies outperformed a Wall Street closed up and commodities firmed nL1N2RZ2NInL1N2RZ0FB

  • Resistance is at 21-day MA at 0.7453 and 10-day MA at 0.7463

  • Support is at the 55-day MA at 0.7363 and Friday's 0.7359 low

  • Bias is for higher, as USD looking vulnerable and risk assets stay bid

  • China CPI and PPI out today and could move markets if outside forecasts

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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