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Jul 04 - 07:24 AM
AUD/USD - Retreats From Eight-Week Peak After Barrier Defence
First appeared on eFXplus on Jul 04 - 05:10 AM
  • Option-related supply helped cap AUD/USD at an 8-week high of 0.7048 in Asia
  • 0.7048 = two pips shy of an option barrier level. 0.7015 = subsequent low
  • Bids expected near 0.7000 (former resistance level) if the retreat extends
  • AUD/USD broke above 0.7000 (Tuesday's high) 24 hours ago
  • Wary Australian shoppers, job slowdown build case for third RBA rate cut
  • See: nL4N2450J2. 0.6957 was Tuesday's low (after second RBA rate cut)

AUDUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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