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May 22 - 07:55 PM

AUD/USD - Quiet Start With No Reaction To Aus Election As Expected

By John Noonan  —  May 22 - 06:25 PM
  • AUD/USD off to a quiet start after finishing Friday little changed

  • As expected, there has been no reaction to the Australian election result nL3N2XC1GA

  • AUD/USD above the descending 21-day MA at 0.7043 - suggesting upside bias

  • Resistance is at the 61.8 0f the 0.7267/0.6829 move at 0.7099

  • More support is at the 10-day MA at 0.6978

  • AUD/USD gained 1.66% last week in great part due t China optimism

  • If China continues to take steps to spark growth - AUD should benefit

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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