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Mar 03 - 05:55 PM

AUD/USD - Steady Start After Rising Friday On Fall In US Yields

By John Noonan  —  Mar 03 - 04:40 PM
  • AUD/USD trading at 0.6520/25 after closing +0.43% Friday at 0.6525

  • USD broadly eased Friday when US yields fell on soft US data nL2N3FF3RD

  • Late gains on Wall Street and AUD/JPY buying also underpinned AUD/USD nL2N3FF3JX

  • AUD/USD closed above the 21-day MA at 0.6522 while 10-day MA at 0.6535 caps

  • A break above 0.6535 targets 0.6560/65 where the 100 & 200-day MAs converge

  • Support has formed at 0.6485/90 where it bottomed the last three sessions

  • A break below 0.6480 targets the Feb 13 low at 0.6443

  • AUD/USD range trading - but bias for higher while US yields remain pressured

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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