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Nov 21 - 05:55 PM

AUD/USD - Steady Start After Friday's Fall Cements Down-Trend

By John Noonan  —  Nov 21 - 04:48 PM
  • AUD/USD trading around 0.7240 after falling 0.55% on Friday

  • Growing concerns over Europe's COVID 4th wave and hawkish Fed speak weighed nL1N2SA1ST

  • AUD/USD trending lower with the 5, 10 & 21-day MAs in a bearish alignment

  • Resistance is at the 10-day MA at 0.7300 and break eases downward pressure

  • Support is at the 200-week MA at 0.7195 and trend low at 0.7170

  • Key in Asia will be AUD/JPY flows and moves in Asian equity markets

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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