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Jan 02 - 05:55 PM

AUD/USD - Choppy Start To The New Year After Strong Close

By John Noonan  —  Jan 02 - 05:10 PM
  • AUD/USD choppy in early Asia - with a 0.6794/0.6829 range so far

  • It closed higher on Friday after USD broadly weakened nL1N33K119

  • AUD/USD settling around the 0.6800 level after closing Friday at 0.6816

  • It rose over 1.5% the last week of 2022 to close on a strong note

  • Key resistance looms, as the 200-day MA descends to 0.6860

  • It has only closed above the 200-day MA once since late April 2022

  • Support is at he 10-day MA at 0.6736 and break would ease upward pressure

  • China PMI on the weekend was weak and may help cap AUD/USD rallies nL1N33L02D

  • China Caixin Mfg PMI for Dec is out today with the market looking for 48

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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