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Jun 23 - 07:55 PM

AUD/USD - Opens Higher After Commodity Currencies Outperform

By John Noonan  —  Jun 23 - 06:45 PM
  • AUD/USD opens +0.28% after AUD and NZD gained against all the majors

  • Firmer metal prices helped to underpin AUD against the JPY, EUR and USD nL2N2O50FW

  • AUD/USD close above 200-day MA (0.7558) eases downward pressure

  • Resistance is at the 10-day MA at 0.7599 and 38.2 fibo at 0.7634

  • Short-term trend lower losing momentum, as 5-day MA now pointing higher

  • Lack of downside following last week's break lower frustrating shorts

  • Support at 200-day MA at 0.7558 and buyers 0.7535/40

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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