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Nov 18 - 01:55 AM

AUD/USD - Moves Lower In Asia As Risk Assets Struggle

By John Noonan  —  Nov 17 - 10:25 PM
  • AUD/USD opened 0.30% lower at 0.7299 after Wall Street closed on weak note nL1N2I32RZ

  • Failure to take out resistance at 0.7340/45 on Tuesday disappointed bulls

  • Mood in Asia was downbeat with E-minis falling 0.25% at one stage

  • COVID-19 vaccine enthusiasm waning as infection rate continues to soar nL4N2I40I1

  • AUD/USD fell as low at 0.7272 before finding buyers again

  • Heading into the afternoon it was trading around 0.7285

  • Support @ 10-day MA at 0.7280 and close below suggest upward momentum waning

  • Resistance at 0.7340/45 validated by yesterday's price action

  • More support at Wednesday's 0.7266 low and last week's 0.7221 low

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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