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Aug 08 - 11:55 PM

AUD/USD - Ends Morning Unchanged After Following Gold Price

By John Noonan  —  Aug 08 - 11:34 PM
  • AUD/USD opened 0.7355 after falling 0.65% Friday following strong US jobs

  • After trading 0.7362 it fell to 0.7328 when gold collapsed 4.5% to 1,686

  • Once the gold stops were triggered, gold filled in the gaps back to 1,740

  • AUD/USD followed gold back up and was 0.7355 into the afternoon session

  • AUD/USD support at July 28 low at 0.7317 and trend low at 0.7289

  • Resistance is at 10-day MA at 0.7372 and 21-day MA at 0.7386

  • Sagging commodities on China demand fears to limit AUD/USD upside nL1N2PG006

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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