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Mar 09 - 01:55 AM

AUD/USD - Recovers After Coming Close To Testing Key Support

By John Noonan  —  Mar 08 - 10:13 PM
  • AUD/USD opened 0.43% lower at 0.7647 after USD broadly strengthened nL1N2L61JE

  • It traded 0.7657 early when E-minis opened higher and Tokyo bought AUD/JPY

  • It reversed after the Tokyo fix and Shanghai Comp fell around 2.5%

  • AUD/USD fell to 0.7621 - close to the 38.2 of 0.6990/0.8007 move at 0.7618

  • The Shanghai Comp recovered most of the losses and AUD/USD whipped higher

  • USD lost some of its bid, as the US 10-yeay yield eased to 1.56% from 1.59%

  • Heading into the afternoon the AUD/USD was trading around 0.7655

  • Recovery validates the 0.7618 level as solid support for now

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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