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Sep 23 - 07:55 PM

AUD/USD - Opens Sharply Lower As Negative Factors Accumulate

By John Noonan  —  Sep 23 - 06:15 PM
  • AUD/USD opens 1.30% lower as equity and commodity prices fall together nL2N2GK20HnL5N2GK2ZB

  • Dovish shift in RBA expectations and broad USD strength add to bear case

  • AUD/USD perched above 0.7060/70 support after hitting low at 0.7068

  • The 0.7060/70 window has been resistance and support since late 2019

  • The 5, 10 and 21-day MAs aligned in bearish formation and pointing lower

  • Break below 0.7060 targets 100-day MA at 0.70002

  • Sellers are lined up between 0.7135/40 to cap rallies

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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