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Apr 27 - 01:55 AM

AUD/USD - Moves Lower Before Fining Support In Cautious Asia

By John Noonan  —  Apr 26 - 11:41 PM
  • AUD/USD opened 0.72% higher at 0.7802 after gettig boost from strong commodities nL4N2MK0TM

  • After trading at 0.7803 it drifted lower as USD broadly firmed in Asia

  • Asian equities traded with a heavy tone with AXJ index easing around 0.20%

  • AUD/USD fell to 0.7780 before settling around 0.7790 into the afternoon

  • Failure yesterday to break April high @ 0.7816 may have discouraged bulls

  • More resistance is at the 61.8 of the 0.8007/0.7532 move at 0.7825

  • Support is at former resistance at 0.7760/65 and the 10-day MA at 0.7748

  • AUD/USD should be a buy on dips while iron ore and copper remain firm

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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