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Apr 14 - 07:55 PM

AUD/USD - Edging Higher Early Asia After Big Risk-Off Drop Friday

By John Noonan  —  Apr 14 - 06:50 PM
  • AUD/USD fell 1.15% Friday after markets were gripped by geopolitical fears nL2N3GL1XA

  • Stocks fell, Treasuries rose while USD & JPY gained & risk currencies fell

  • AUD/USD traded to 0.6455 - just above the Feb 13 trend low at 0.6443

  • Resistance is at 0.6545/55 where the 10 & 21-day MAs converge

  • Friday's price action suggests market positioned for bad news

  • If Middle East crisis doesn't escalate there will be a relief rally

  • Market likely to remain cautions as events unfold

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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