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Sep 08 - 07:55 PM

AUD/USD - Opens Lower But Off Lows As Risk Rally Underpins

By John Noonan  —  Sep 08 - 06:55 PM
  • AUD/USD opens -0.25% around 0.6750 - but well off Asia low at 0.6713

  • Buoyant equity and commodity markets helped to underpin AUD/USD at the lows nL1N30F2VAnL1N30F0JT

  • Risk markets took hawkish ECB hike and hawkish Powell message in stride nL1N30F0AAnL1N30F29H

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

  • A close above the 10-day MA at 0.6800 would suggest bottom is forming

  • Support is at the 2022 low at 0.6682 with bids around 0.6700

  • China CPI and PPI today, but unlikely to impact price action

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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