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Dec 06 - 05:55 PM

AUD/USD - Opens Slightly Lower As Risk-Off Mood Underpins USD

By John Noonan  —  Dec 06 - 05:30 PM
  • AUD/USD opens -0.16% after USD gained as recession fears hit risk assets nL1N32W2KF] nL1N32W2LQ

  • It closed at the ascending 21-day MA at 0.6688 - which rises to 0.6697 today

  • A close below the 21-day MA would signal end of short-term trend higher

  • The next support is at the 38.2 of the 0.6170/0.6851 move at 0.6590

  • Resistance is at the double-top around 0.6850 where sellers are tipped

  • Aus GDP today with expectations for +0.7% Q/Q - unlikely to be a market mover

  • AUD/USD looking vulnerable in short-term as recession talk weighs

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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