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Oct 17 - 01:55 AM

AUD/USD - Moves Higher In Asia As USD Eases And GBP Recovers

By John Noonan  —  Oct 16 - 11:35 PM
  • AUD/USD opened 0.6209 after getting smashed 1.51% lower on Friday

  • GBP/USD moved higher early Asia after hawkish comments from BOE's Bailey

  • The move up in GBP/USD led the USD broadly lower through the morning

  • AUD/USD traded up to 0.6236 with a 0.50% rise in E-minis helping

  • Heading into the afternoon the AUD/USD is trading around 0.6230/35

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

  • Only a close above the 10-day MA at 0.6335 would suggest a bottom is forming

  • Support is at last week's low at 0.6170 and 76.4 0f 2020 move at 0.6099

  • China growth concerns will likely limit AUD gains as China Covid policy remains in place (Full Story)

  • Dalian iron ore is down over 2.5% today, but Lon copper is up 0.35%

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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