Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Aug 24 - 01:55 AM

AUD/USD - Recovers From Early Dip As Asia Remains Upbeat

By John Noonan  —  Aug 23 - 11:55 PM
  • AUD/USD opened +0.89% at 0.6480 after USD weakened on weak US PMI nL1N3A423B

  • AUD outperformed peers as strong gains in iron ore and copper underpinned

  • AUD/USD dipped to 0.6468 before bouncing back as Asian equity markets gained nL8N3A5029

  • Heading into the afternoon the AUD/USD is trading 0.6480/85

  • Support is at the 10-day MA at 0.6446, which was previous resistance

  • Resistance is at the 21-day MA at 0.6522 and break would end down-trend

  • AUD/USD shorts feeling the pinch from surprise rally in iron ore and copper

  • The weak China demand narrative undermined by recent commodity market gains

  • Focus will now shift to Jackson Hole symposium

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


  • eFXplus
  • End-user license agreement (EULA)


  • About
  • Contact Us


  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved