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Oct 17 - 07:55 PM

AUD/USD - Opens Higher Despite Surging US Yields

By John Noonan  —  Oct 17 - 05:40 PM
  • AUD/USD opens +0.38% and was best performing major currency Tuesday

  • Move higher largely due to AUD/NZD buying as cross rose close to 1.0%

  • AUD/USD strength surprising given significant rise in US yields nL1N3BN2JO

  • Hawkish shift in RBA expectations following RBA minutes underpinned AUD

  • RBA Governor Bullock speaks today and could add colour to RBA outlook

  • China GDP, IP and retail sales could also impact AUD sentiment

  • AUD/USD resistance is at the 21-day MA at 0.6382

  • Close above 0.6385 conforms base is in place at the double-bottom at 0.6286

  • More resistance is at 55-day MA (0.6426) which has held since Aug 1

  • Support is at Tuesday's 0.6335 low and break shifts pressure to downside

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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