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Aug 26 - 08:36 PM
AUD/USD - AUD Outperforms On Huge AUD/JPY Reversal
First appeared on eFXplus on Aug 26 - 06:15 PM
  • AUD/USD opens 0.30% higher after AUD was best performing major currency
  • Renewed hopes of a US-China trade deal led to huge reversal in AUD/JPY nL3N25M235
  • Cross rose nearly 2.80% from the low hit in Asia early Monday
  • AUD/USD poised below 21-day MA at 0.6781 and close above would be bullish
  • More resistance between 0.6820/35 where daily highs and 38.2 fibo converge
  • Hourly support formed around 0.6760 and buyers tipped ahead of 0.6750
  • Key will be Tokyo AUD/JPY flows after retail longs stopped out yesterday
  • Comments out of China, the CNY fix and Asian equities also in focus

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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