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Oct 07 - 08:36 AM
AUD/USD - Deflated By China-U.S. Trade Concerns
First appeared on eFXplus on Oct 07 - 06:20 AM
  • Risk-sensitive AUD continues to suffer on the back of China-U.S. trade angst

  • China narrows scope for trade deal with U.S. ahead of talks-Bbg nFWN26P0DQ

  • AUD/USD fell to a low of 0.6733 during the European am. 0.6747 was Asia low

  • 0.6733 approximates to 38.2% Fibo of 0.6670 to 0.6774 (Friday's 3-day high)

  • 0.6670 was 10-year low last Wednesday (day after RBA's dovish rate cut)

  • Bids expected near 0.6700 if AUD/USD extends south (0.6703 = Thursday's low)

AUDUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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