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Jun 30 - 02:55 AM

AUD/USD - Recovers From Early Dip After China PMIs Improve

By John Noonan  —  Jun 30 - 12:00 AM
  • AUD/USD opened -0.36% at 0.6880 after USD firmed on Powell comments nF9N2WY011

  • It fell to 0.6853 in early Asia before bids at 0.6850 discouraged seller

  • It was around 0.6870 when China PMIs were released nAZN09UPQLnAZN09UQA0

  • After some hesitation, the AUD/USD rebounded to 0.6904 before sellers capped

  • Heading into the afternoon it is trading around 0.6890

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

  • Resistance is @ the 10-day MA @ 0.6923 and beak would ease downward pressure

  • Support is at the June 14 low at 0.6850 and 2022 low at 0.6829

  • Global growth concerns will likely keep the AUD/USD under pressure

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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