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Feb 18 - 10:55 PM

AUD/USD - Assumes Soft Tone As Equities Come Under Pressure

By John Noonan  —  Feb 18 - 09:40 PM
  • AUD/USD opened 0.23% high at 0.7769 after USD broadly weakened

  • The range this morning has been 0.7758/76 in quiet Asian trading

  • There was no reaction to the weaker than expected Aus retail sales nS9N2J200K

  • Equities under pressure with E-minis down 0.42% and AXJ index down 0.83%

  • Weaker equities cap AUD while strong metal prices underpin nL1N2KO13C

  • Heading into the afternoon the AUD/USD is trading around 0.7760/65

  • Sellers are tipped 0.7800/10 while resistance is at Jan 6 high at 0.7819

  • Support comes in at the 10-day MA at 0.7750 and 21-day MA at 0.7704

  • AUD vulnerable if current equity weakness the start of a correction

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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