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Oct 11 - 02:55 AM

AUD/USD - Falls In Asia As Risk-Off Mood And CNH Weakness Weigh

By John Noonan  —  Oct 10 - 11:45 PM
  • AUD/USD opened -1.12% at 0.6295 after AUD fell against all major currencies

  • After trading 0.6305 it came under renewed pressure when USD/CNH soared nL1N31C041

  • Spike higher in US yields led to the CNH selling and USD buying nL4N31C08D

  • E-minis were up early before succumbing to risk off mood and easing 0.35%

  • Dalian iron ore fell over 2% and Lon copper eased 0.25% to weigh on AUD

  • AUD/USD traded to fresh 20-month low at 0.6262 and didn't bounce

  • Minor support at April 2020 weekly low at 0.6253

  • Objective of move is the 76.4 of the 2020 pandemic low/high at 0.6099

  • Only a break above the 10-day MA at 0.6427 would ease pressure

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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