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Dec 22 - 07:55 PM

AUD/USD - Opens Higher As Risk Rally Sparks Short-Squeeze

By John Noonan  —  Dec 22 - 05:50 PM
  • AUD/USD opens +0.87% after risk assets rallied an waning Omicron concerns nL1N2T7212nL4N2T70J7

  • AUD/USD underpinned by AUD/JPY buying as cross rose 0.9%

  • AUD/USD closed above the 10 & 21-day MAs - suggesting bottom in place

  • Support is at the 10-day MA at 0.7158 and 21-day MA at 0.7135

  • Resistance is @ Dec 16 high @ 0.7222 and break targets 55-day MA at 0.7291

  • Key today will be AUD/JPY flows out of Tokyo mood in Asian equity markets

  • Short-term momentum favours more AUD gains into year-end

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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