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Aug 15 - 10:55 PM

AUD/USD - Dips Below 10-Day MA As Longs Liquidate

By John Noonan  —  Aug 15 - 09:25 PM
  • AUD/USD has traded as low as 0.7000 as pressure remains on the downside

  • The 10-day MA is at 0.7011 with the next support at the 21-day MA at 0.6980

  • A clear break of 0.6980 would suggest a short-term top is in place at 0.7148

  • The 200-day MA descends to 0.7148 to further fortify topside resistance

  • Key commodities remain under pressure with Dalian iron ore down around 1.5%

  • AUD/USD vulnerable while global growth concerns impact sentiment

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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