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Jun 22 - 01:55 AM

AUD/USD - Recovers After S&P Futures Reverse Higher

By John Noonan  —  Jun 22 - 12:05 AM
  • AUD/USD fell to 0.6801 at open on talk of EUR/AUD buying flow

  • It recovered to around 0.6830 quickly when the market thickened up

  • Early 1.0% fall in E-minis on second wave fears weighed on AUD nL8N2DY0PUnS9N2D702A

  • RBA Governor Lowe spoke, but his comments had limited impact

  • Lowe said lower AUD was desirable, but AUD/USD wasn't yet overvalued nS9N2D702C

  • AUD/USD ten started to move higher when the E-minis reversed higher

  • E-minis were up 0.65% into the afternoon and the AUD/USD was around 0.6855

  • Support is at the 21-dy MA at 0.6837 and close below would add pressure

  • Resistance at the 10-day MA at 0.6890 and close above would target 0.6977













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Source:
Refinitiv IFR Research/Market Commentary

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