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Jan 04 - 05:55 PM

AUD/USD - Recovers And Outperforms On Heavy AUD/JPY Demand

By John Noonan  —  Jan 04 - 05:18 PM
  • AUD/USD opens Asia +0.65% after AUD was best performing currency

  • It traded as low as 0.7187 before heavy AUD/JPY buying underpinned

  • AUD/JPY closed the day over 1.30% higher as key commodities moved higher nL1N2TK0D6

  • AUD/USD support is at the 21-day MA, which moves up to around 0.7195 today

  • Resistance has formed between 0.7270/90 with the 100-day MA a 0.7287

  • A clear break above 0.7290 targets the 61.8 of 0.7555/0.6994 at 0.7341

  • Key today will be AUD/JPY flows out of Tokyo and moves in Asian equity markets

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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