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Jan 07 - 07:55 PM

AUD/USD - Opens Lower As Over-Crowded Long Positions Pare Back

By John Noonan  —  Jan 07 - 05:47 PM
  • AUD/USD opens 0.5% lower as higher US yields and weaker CNH weigh nL1N2JI1MX

  • Overcrowded short USD positions took some profit to weigh on AUD/USD

  • Move lower in AUD/USD tempered by rising risk assets

  • S&P and NY copper rose 1.4% as hopes of US stimulus support growth nL1N2JI2ZF

  • AUD/USD resistance formed at 0.7815/20 where sellers are tipped

  • Support is at the 10-day MA at 0.7693 and 21-day MA at 0.7628

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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