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Jul 21 - 07:55 PM

AUD/USD - Bid In Early Asia After Bullish Outside Day

By John Noonan  —  Jul 21 - 06:10 PM
  • AUD/USD opens +0.68% after completing a bullish outside day

  • AUD best performing currency as USD broadly weakened after ECB 50 BP hikenL1N2Z223R

  • AUD gained despite commodity price slump as equity gains underpinned nL1N2Z20J2nL1N2Z203JnL1N2Z22K7

  • AUD/USD resistance at 55-day MA at 0.6970 and 50% retracement at 0.6982

  • A break above 0.6985 targets 61.8 of 0.7282/0.6682 move at 0.7053

  • Support is at the 21-day MA at 0.6847 with bids ahead of 0.6850

  • Moves in Asian equities and AUD/JPY flows to dictate direction in Asia

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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