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Aug 17 - 07:55 PM

AUD/USD - Opens Higher On Weak USD And Buoyant Commodities

By John Noonan  —  Aug 17 - 06:25 PM
  • AUD/USD opens 0.63% higher as USD weakens and commodities soar

  • Gold and NY copper rose over 1.5% in a risk-on start to the week

  • AUD/USD traded as high as 0.7227 with resistance at 0.7240/45

  • A break above 0.7250 targets a weekly high made in Feb 2019 at 0.7295

  • Support at the 21-day MA @ 0.7161 and close below would ease upward pressure

  • RBA Minutes today, but they are unlikely going to contain new information

  • After brief pause, AUD/USD resumed short-term trend higher

  • The 5, 10 and 21-day MAs are in bullish alignment and tilting higher

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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