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Aug 31 - 11:55 PM

AUD/USD - Flat On The Session As Driving Factors Offset

By John Noonan  —  Aug 31 - 11:23 PM
  • AUD/USD opened +0.26% at 0.7314 despite sluggish moves in risk assets

  • It traded up to 0.7324 early Tokyo on AUD/JPY demand before Aus GDP

  • It was trading at 0.7410 when Q2 Aus GDP came in better than expected nL1N2Q304F

  • It traded to 0.7318 before easing back to 0.7310/15 into the afternoon

  • Market appeared to shrug off a 7% slide in Dalian iron ore futures

  • Support is at yesterday's low at 0.7288 with buyers tipped at 0.7285

  • A break below 0.7285 targets the 10-day MA at 0.7249

  • Resistance is at the 55-day MA at 0.7395 and 38.2 fibo at 0.7406

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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