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Jun 26 - 07:55 PM

AUD/USD - Opens With A Bid Tone After Solid Gains On Friday

By John Noonan  —  Jun 26 - 06:45 PM
  • AUD/USD opens just below 0.6950 after rallying 0.67% Friday

  • Move higher was due to gains on Wall Street, which encouraged AUD/JPY buying nL1N2YB2VL

  • AUD/JPY rose 0.86% on Friday on short-covering, as the mood brightened

  • AUD/USD testing 10-day MA at 0.6949 and clear break would be bullish

  • Resistance is at the 38.2 of the 0.6829/0.7282 move at 0.7002

  • AUD/USD likely to benefit from upward momentum in equities into month-end

  • Support is at Friday's 0.6889 low with buyers tipped ahead of 0.6900

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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