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Aug 21 - 07:55 PM

AUD/USD - Opens Slightly Higher As USD/CNY Fall Offsets Higher US Yields

By John Noonan  —  Aug 21 - 06:40 PM
  • AUD/USD opens +0.14% despite the move up in US yields on Monday nL1N3A21NA

  • Move lower in USD/CNH after CNY short squeeze helped to underpin AUD/USD nL1N3A20K7

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

  • Trend lower stalling after higher daily lows the last two trading days

  • Resistance is at 10-day MA at 0.6454 and break would suggest bottom forming

  • Support at Monday's 0.6388 low and last week's low at 0.6365

  • Key in Asia will be USD/CNH moves and AUD/JPY flows after cross rose 0.70%

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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