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Aug 09 - 06:55 AM

AUD/USD - Plenty Of Weight On AUD/USD But It's Looking Resilient

By Richard Pace  —  Aug 09 - 05:10 AM
  • Broader USD bid weighs AUD/USD beside local lockdown's, China demand worries

  • Hit 0.7329 amid Asia Gold slump, retested early high .7362 as Gold recovered

  • Next support 28 July low 0.7317 before 21 July and 2021 low at 0.7290

  • Break opens 13-12 Nov double lows at 0.7222-24, then Nov low 0.6990

  • Option prices remain consistent with downside spot risk, but show no panic

  • Implied volatility recovery is fairly tame after recent setbacks

  • Risk reversals retain strong downside premium, but little changed of late

  • Suggests options expect any further AUD weakness to remain a grind, for now

  • Daily tenkan and 21-dma resistance 0.7372-86, before Fri high 0.7406

For more click on FXBUZ

AUD=D3 Click here

AUD/USD 1-month expiry implied volatility Click here

Refinitiv IFR Research/Market Commentary


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