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Mar 13 - 11:55 PM

AUD/USD - Atains Offered Tone Heading Into The Afternoon

By John Noonan  —  Mar 13 - 11:15 PM
  • AUD/USD opened +0.23% @ 0.6621 after USD eased despite higher US yields nL2N3FR1TY

  • It moved up to 0.6631 early Asia when frustrated shorts pared back

  • Once buying finished AUD/USd slipped late morning and traded down to 0.6613

  • Heading into the afterno0on it is settled down around 0.6615

  • AUD/USD trending higher with the 5, 10 & 21-day MAs in a bullish alignment

  • Trend showing signs of stalling as the 5-day MA starts to flatten out

  • Support is at the 10-day MA at 0.65

  • A break below the 10-day MA at 0.6580 would warn a top is in place

  • Resistance is at March 8 high at 0.6667 and 61.8 of Dec-Feb fall at 0.6707

  • A break above 0.6710 would rejuvenate trend higher

  • US retail sales and PPI out later today For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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