By John Noonan — Jul 28 - 06:35 PM
AUD/USD opens unchanged after trading in a 0.6955/0.7013 range Thursday
Growth fears cap AUD, as US GDP printed negative for second quarter in a row nL1N2Z83DU
Falling US yields and buoyant equities and commodities underpin AUD/USD nL1N2Z926ZnL1N2Z90U1nL1N2Z938U
AUD/USD rally capped at the base of the daily cloud at 0.7013
More resistance is at the 38.2 of the 0.7661/0.6682 move at 0.7156
AUD/USD trending higher with the 5, 10 & 21-day MAs in a bullish alignment
A break below the 10-day MA at 0.6933 would suggest a top is forming
AUD/USD likely to remain elevated while commodities remain resilient
Key today will be Tokyo AUD/JPY flows after it fell 1.70%
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Source:
Refinitiv IFR Research/Market Commentary