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Aug 12 - 01:55 AM

AUD/USD - Recovers From Early Dip In Quiet Asian Session

By John Noonan  —  Aug 11 - 11:50 PM
  • AUD/USD opened +0.34% at 0.7104 after trading as high as 0.7136

  • It dipped to 0.7090 early Asia when USD firmed and AUD/NZD was sold

  • Buyers emerged and it firmed to 0.7105/10 heading into the afternoon

  • Strong resistance is at 200-day MA at 0.7151 and 50% retracement at 0.7171

  • Support is at former resistance at 0.7045/55

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

  • AUD strength tied to bounce in commodities & reduced fear of jumbo Fed hikes

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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