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Sep 29 - 07:55 PM

AUD/USD - Breaks Lower To Put 2021 Low In Focus

By John Noonan  —  Sep 29 - 06:12 PM
  • AUD/USD opens 0.91% lower after breaking supports at 0.7220 and 0.7194

  • Risk aversion, broad USD strength, EM weakness and soft commodities weigh nL1N2QV0XCnL1N2QV2SHnL1N2QV041

  • The next level of support for AUD/USD is the 2021 low at 0.7106

  • Trend lower in place as 5, 10 & 21-day MAs in bearish alignment

  • The 10-day MA is at 0.7242 and break would ease downward pressure

  • AUD/USD sellers tipped ahead of previous support at 0.7220/25

  • China PMIs out today and could add to bearish outlook for its economy

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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