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Aug 15 - 07:55 PM

AUD/USD - Opens A Cent Lower As Growth Fears Hit Commodities

By John Noonan  —  Aug 15 - 06:50 PM
  • AUD/USD opens 1 cent or 1.4% lower at 0.7021 after heavy selloff

  • Global growth fears following weak China and US data weighed on commodities nL4N2ZO0XFnL1N2ZR0YBnL1N2ZR04M

  • AUD/USD support at 10-day MA at 0.7012 and 21-day MA at 0.6980

  • Resistance at 200-day MA (0.7143) validated by Thursday/Monday price action

  • A break below 0.6980 would confirm a top is in place for a deeper move lower

  • RBA minutes later today to provide colour on tightening cycle outlook

  • Key in Asia will be moves in Asian currencies and key commodities

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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