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Aug 16 - 10:55 PM

AUD/USD - Testing Support Around 0.6400 As Gloom Persists In Asia

By John Noonan  —  Aug 16 - 08:50 PM
  • AUD/USD under heavy pressure as early Asia equity markets selloff

  • Both the ASX 200 and Nikkei are down over 1.0% in early trading

  • AUD/USD has traded to 0.6401 with support at the 76.4 fibo at 0.6403

  • A clear break under 0.6400 doesn't find support until Oct 22 low @ 0.6170

  • Bids around 0.6400 holding for now but rallies will be sold

  • Sentiment towards China and key commodities growing ever bearish

  • Aus jobs data will be out shortly and may spur some action

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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