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Nov 29 - 11:55 PM

AUD/USD - Slips From Highs As Asia Turns Cautious

By John Noonan  —  Nov 29 - 10:05 PM
  • AUD/USD opened 0.7389 after closing at 0.7383 Friday - up 0.35%

  • It moved higher when E-minis opened +0.35% and China PMI beat expectations nL1N2ID0A9

  • AUD/USD traded to 0.7408 at one stage before sellers ahead of 0.7410 capped

  • Mood turned cautious and E-minis fell 0.25% and AXJ equities eased 0.30%

  • AUD/USD gave back ground and was edging below 0.7390 into the afternoon

  • Resistance is at the Sep 1 and 2020 high at 0.7413

  • A break above targets the 76.4 of the 0.8136/0.5510 move at 0.7516

  • Support comes in at the 10-day MA at 0.7333 and break eases upward pressure

  • AUD underpinned by higher commodities while Aus/China trade tensions cap nL1N2IG03AnL1N2IF0JV

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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