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Mar 07 - 05:55 PM

AUD/USD - Opens Higher As AUD Continues To Outperform In USD Fall

By John Noonan  —  Mar 07 - 05:20 PM
  • AUD/USD opens +0.84% as the USD continued to fall as Ged cuts get priced in nL2N3FL362

  • AUD moved up against every major currency except JPY as risk assets buoyant nL2N3FL3JL] nL2N3FL0QJ

  • China pessimism appears to be abating with Thursday China trade data helping nL2N3FL08J

  • Close above 38.2 Dec-Feb decline targets the 50% of the move at 0.6657

  • A double-top has formed around 0.6625 where it capped yesterday and Jan 30

  • AUD/USD trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • Support is at the 10-day MA at 0.6541 and 21-day MA at 0.6535

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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