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