By John Noonan — Aug 06 - 06:45 PM
AUD/USD trading just above 0.6570 -where it closed on Friday
It rose 0.32% Friday - - but well off the post US jobs figure high at 0.6610
Thursday Friday bounce is corrective at this stage, as trend lower persists
The 5, 10 & 21-day MAs are in a bearish alignment and pointing south
Only a break above the 10-day MA at 0.6647 would suggest a bottom is forming
Support is at last week's 0.6516 low and the May 31 low at 0.6459
AUD vulnerable as market grows impatient waiting for China stimulus
Signs that Wall Street is ready to correct lower could also weigh on AUD
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary