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Jul 11 - 08:55 PM

AUD/USD - Bear Trend Reinforced By Break Of Quadruple Low

By Krishna K  —  Jul 11 - 07:40 PM
  • AUD/USD languishes at a 2-year low in Asia after declining 1.8% Monday

  • Risk aversion on global recession fears, rising China COVID cases weigh

  • Undermined by expectations that Fed will hike rates faster, further than RBA

  • Copper, iron ore and oil decline, souring AUD sentiment; Dalian iron -2.9%

  • Break of 4-time tested 0.6762-64 support & 50% retracement at 0.6758 bearish

  • Support 0.6710-15, 0.6650, resistance 0.6765-75, 0.6795-0.6800, 0.6825-30

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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