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Thomson Reuters
Feb 07 - 02:36 AM
AUD/USD - Consolidates At Lows Ahead Of Key Support
First appeared on eFXplus on Feb 06 - 10:30 PM
  • AUD/USD opened under pressure after NZD/USD slid in wake of weak NZ jobs
  • AUD/USD traded as low as 0.7097 before buyers came in to underpin
  • Late in the morning it was trading around 0.7110
  • Consolidation may be at hand after the 1.8% fall on Wednesday
  • The RBA shift in bias to neutral wasn't totally unexpected
  • Key support around 0.7075 where Jan 25 low & 38.2 of 0.6715/0.7295 converge
  • Focus likely to shift to US/China trade talks, as RBA impact fades

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Source:
Thomson Reuters IFR Markets

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