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Oct 13 - 01:55 AM

AUD/USD - Grinds Below Short-Term Support As E-Minis Pressured

By John Noonan  —  Oct 12 - 10:30 PM
  • AUD/USD opened 0.46% lower at 0.7210 despite rise on Wall Street

  • After trading at 0.7212 it tracked lower on AUD/JPY selling out of Tokyo

  • E-mini futures moved 0.40% lower to add to the pressure on the AUD

  • AUD/USD grinding through support at 0.7170/75 where 10 & 21-MAs converge

  • Low so far has been 0.7165 with clear break targeting 100-day MA at 0.7080

  • Recent price action validates 61.8 fibo at 0.7257 as key resistance

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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