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Mar 28 - 01:55 AM

AUD/USD - Edges Higher As Support Holds On Early Dip

By John Noonan  —  Mar 27 - 11:05 PM
  • AUD/USD opened flat at 0.6534 after Wall Street rally supported recovery from lows nL2N3G52FN

  • It dipped to 0.6515 following slightly weaker Aus retail sales nAZN1MPCJW

  • A trend line drawn from Oct 26 low comes in @ 0.6515 today and held again

  • USD/CNH eased from the morning high and helped to underpin AUD/USD bounce

  • AUD/USD traded to 0.6540 before settling at 0.6535

  • Resistance is at the 10-day MA at 0.6546 and a topside trend-line at 0.6614

  • A break of either 0.6514 or 0.6614 should see decent follow-through

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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