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Jul 24 - 07:55 PM

AUD/USD - Resilient Despite Rising Global Growth Concerns

By John Noonan  —  Jul 24 - 06:15 PM
  • AUD/USD ended Friday -0.17% after AUD/JPY selling capped rally at 0.6976

  • Global growth fears and Wall Street selloff weighed on AUD during US session nL1N2Z31VM

  • AUD resilient despite growth concerns and was best performing currency last week

  • AUD/USD failed around key resistance between 0.6965/85

  • A trend-line that came in at 0.6975 on Friday descends to 0.6965 today

  • The 55-day MA comes in right behinds at 0.6969

  • The 50% of the 0.7282/0.6682 move comes in at 0.6982

  • A break above 0.6985 targets the 61.8 of that move at 0.7053

  • Key support is at 0.6845 where the 10 and 21-day MAs converge

  • AUD/USD may consolidate ahead of key Fed meeting and Aus CPI on Wednesday

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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