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Jan 18 - 10:55 PM

AUD/USD - Continues To Firm With Rising Equities

By John Noonan  —  Jan 18 - 09:55 PM
  • AUD/USD is above 0.7710 after opening the session around 0.7675

  • Move higher has been underpinned by buoyant equity markets in Asia

  • E-minis are over 0.5% higher while AXJ equity index in +1.28%

  • Mood boosted by US stimulus hopes ahead of Yellen's testimony today

  • Yellen is expected to ask the Senate Committee for a large fiscal package nL1N2JT1NC

  • Strong China growth data yesterday also contributing to risk on tone in Asia nL1N2JU02Z

  • AUD/USD resistance @ 10-day MA @ 0.7742 and break shifts pressure to upside

  • Support at 21-day MA @ 0.7680 and close below would add to downward pressure

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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