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Jan 04 - 07:55 PM

AUD/USD - Soars On Weak USD, China Coal News And AUD/JPY Demand

By John Noonan  —  Jan 04 - 05:40 PM
  • AUD/USD opens +1.65% as AUD outperformed on news China to lift Aus coal ban nL1N33P0H8

  • AUD/JPY soared 2.85% - as JPY was heavily sold against the AUD and CAD

  • USD weakened across the board as Fed minutes failed to boost US yields nL1N33P1HM

  • AUD/USD traded above the 200-day MA (0.6849) but failed to close above

  • It topped out at 0.6886 with sellers tipped ahead of 0.6900

  • More resistance is at the 50% of the 2022 fall at 0.6915

  • Support is at the 10-day MA at 0.6771 and 21-day MA at 0.6756

  • Key in Asia will be Tokyo reaction to AUD/JPY rise and Asian equity moves

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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