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Feb 22 - 01:55 AM

AUD/USD - Gives Back Chunk Of Early Gains But Still Trending

By John Noonan  —  Feb 21 - 10:15 PM
  • AUD/USD opened 0.7864 after impressive 1.22% rally on Friday

  • AUD/JPY demand out of Tokyo underpinned early and AUD/USD rose to 0.7885/90

  • Fresh AUD/USD and NZD/USD buying flows emerged when Asia went risk-on

  • The AUD/USD traded up to 0.7908 before running into sellers

  • Risk rally petered out and AUD/USD slipped below 0.7875 into the afternoon

  • Support is found at former resistance at 0.7815/20

  • Psychological resistance is at 0.8000 and sellers layered above 0.7900

  • Sentiment is bullish as AUD rising in the tails of surging commodities

  • Aus government bond yields are rising at the same pace as US Treasury yields

  • The objective of the trend is the 2018 high at 0.8136

  • For more click on FXBUZ]










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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