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Jun 29 - 07:55 PM

AUD/USD - Opens Lower On Broad USD Strength - China PMIs In Focus

By John Noonan  —  Jun 29 - 06:55 PM
  • AUD/USD opens -0.36% after USD moved broadly higher on Powell comments nL1N2YG1QX

  • AUD/USD traded to 0.6862 before bouncing when US yields moved lower

  • Support is at the June 14 low at 0.6850 and 2022 low at 0.6829

  • Resistance is at the 10-day MA at 0.6921 and break would ease pressure

  • China official PMIs today will likely influence price action

  • China Mfg PMI for June expected to bounce to 50.5 from 49.6 in May

  • AUD/USD trending lower with the 5, 10 & 21-day MAs in a bearish alignment

  • Global growth concerns will likely sustain the down-trend to the 2022 low

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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