By Peter Stoneham — Aug 11 - 05:45 AM
Favourable U.S. dollar yield differentials again in play
China economic growth concerns weighing on sentiment too
AUD, in line with broader market, did stage a late Thurs rally vs the USD
A 0.6514 to 0.6617 gain was, however, short lived and the AUD remains weak
Buyers are touted around 0.6500 with support at 0.6549, 2023 low
Resistance, on a closing basis, is at 0.6567, the 10-day moving average
A close above the average to ease pressure on the AUD
Technical bias is negative after the Thursday's bearish outside day
China growth scepticism will likely limit rallies in the short-term
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary