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Jul 06 - 07:55 PM

AUD/USD - Opens Lower After Risk Aversion Leads To Key Reversals

By John Noonan  —  Jul 06 - 06:21 PM
  • AUD/USD opens 0.41% lower after completing a bearish outside day

  • Risk aversion gripped markets after weak German & US data spooked investors nL5N2OI0V9nL5N2OI2LCnN9N2KB023

  • Investors flocked to safe-haven on fears global growth is losing momentum

  • Central banks looking to scale accommodation also adding to investor angst

  • Lon copper was up 1.25% at one stage before closing over 2% lower

  • AUD/USD longs taken on RBA QE tweak forced out as risk currencies plunged

  • AUD/USD support at last week's 0.7445 low the next objective

  • Resistance is at the 10-day MA at 0.7525 and break would ease pressure

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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