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Aug 20 - 03:55 AM

AUD/USD - Risk Aversion, Australia-China Trade Tensions Weigh

By Krishna K  —  Aug 20 - 01:55 AM
  • AUD/USD consolidates in Asia after sharp fall from Wed 18-month 0.7275 high

  • Weighed down by dour Fed outlook on U.S. economy which dents risk mood

  • News Australia to reject China-backed company offer to buy dairy firm weighs

  • Adds to concerns on China-Australia trade ties nL4N2FL4NInL4N2FK0DO

  • Deeper technical decline possible after rejection ahead of 0.7295 2019 high

  • Daily close below 21-DMA at 0.7167 a short term sell signal

  • Supports 0.7130-35, 0.7105-10, 0.7075-80; resistance 0.7205-10, 0.7225-30

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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