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Aug 02 - 07:55 PM

AUD/USD - Opens Higher Despite Risk Aversion As M&A Underpins

By John Noonan  —  Aug 02 - 06:34 PM
  • AUD/USD opens 0.22% higher as AUD gained against every currency except JPY

  • AUD outperformed despite Wall Street fall and weak commodities nL1N2P92AAnL1N2P90FZ

  • Huge Australia M&A deal may have produced AUD-positive flows as more M&A awaits nL1N2P90AJnL1N2P905W

  • Key resistance is at 21-day MA at 0.7404 and break eases downward pressure

  • Support is at last week's 0.7317 low and trend low at 0.7289

  • RBA decision today a risk for AUD/USD longs as RBA expected to be dovish

  • Market expecting RBA to put July taper decision on hold

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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