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Aug 29 - 11:55 PM

AUD/USD - Steadies Around 0.6465 As Upbeat Mood In Asia Underpins

By John Noonan  —  Aug 29 - 10:50 PM
  • AUD/USD has recovered from the plunge low at 0.6449 made after soft Aus CPI nL1N3AB026

  • Market was pricing in no more RBA tightening before the CPI release

  • Asian markets upbeat with Nikkei +0.95% and AXJ index +0.65%

  • AUD/USD back at 0.6465/70 and AUD is steady on the crosses as well

  • Resistance at 21-day MA @ 0.6476 and close above would suggest bottom formed

  • Support is at the 10-day MA at 0.6432 with bids tipped at 0.6390/0.6400

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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