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Aug 09 - 07:55 PM

AUD/USD - Opens Lower As Investors Cautious Ahead Of US CPI

By John Noonan  —  Aug 09 - 06:45 PM
  • AUD/USD opens -0.24% after USD ended the day mixed on Wednesday

  • Move lower on Wall Street undermined risk currencies ahead of key US CPI nL1N39Q2LD

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

  • A break above the 10-day MA at 0.6581 would suggest a bottom is forming

  • Support is at the 2023 low at 0.459 with bids tipped around 0.6500

  • AUD/USD likely to remain linked to USD/CNH moves during Asian session

  • Range trading likely to continue ahead of US CPI later today

  • Bias is to sell rallies while China economic concerns negatively impact sentiment

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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