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Aug 16 - 07:55 PM

AUD/USD - Opens Lower As China Woes And Higher US Yields Weigh

By John Noonan  —  Aug 16 - 06:40 PM
  • AUD/USD opens -0.48% after rise in US yields broadly underpinned USD nL1N39X28OnL1N39X1K0

  • AUD underperforming as China concerns persist and weigh on key commodities

  • AUD/USD approaching support at the 76.4 of 0.6170/0.7158 at 0.6403

  • A break below 0.6400 targets the Oct 2022 low at 0.6170

  • Resistance is at the 10-day MA at 0.6502 and break would ease the pressure

  • Aus jobs data today and market looking for +15 k jobs and unemployment -3.6%

  • A strong number will only have a short-term impact due to focus on China

  • A weaker number may be seen as an excuse to push AUD/USD through 0.6400

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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