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Sep 18 - 01:55 AM

AUD/USD - Attains Bid Tone In A Quiet Asian Session

By John Noonan  —  Sep 17 - 11:40 PM
  • AUD/USD opened 0.6436 after easing 0.16% Friday to 0.6431

  • It moved higher early Asia when USD/CNH dipped below 7.2750

  • AUD/USD traded to 0.6445 before sellers ahead of 0.6450 capped

  • Heading into the afternoon the AUD/USD was trading around 0.6440

  • Flows were light due to the Tokyo holiday

  • AUD/USD support is at 10-day MA at 0.6410 where buying interest is tipped

  • Key support is at the double-bottom at 0.6358

  • Resistance is at the double=top at 0.6522 with sellers camped around 0.6480

  • AUD/USD underpinned by cautious optimism regarding China economic recovery

  • Rising US yields continues to cap AUD/USD rallies and limit gains

  • More range trading likely ahead of Key FOMC meeting Wednesday

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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