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Aug 10 - 07:55 PM

AUD/USD - Opens Lower After Bearish Outside Day

By John Noonan  —  Aug 10 - 07:10 PM
  • AUD/USD opens -0.20% after giving back hefty gains in a volatile session

  • It traded to 0.6617 after softer US CPI before reversing lower nL1N39R1CK

  • Rebound in US yields after initial fall broadly supported the USD rebound nL1N39R2KM

  • AUD/USD gained before US CPI on report China looking to help property sector

  • Bearish outside day reversal leaves the bears back in control

  • AUD/USD bids tipped around 0.6500 with support at 2023 low at 0.6459

  • Resistance is at 10-day MA at 0.6566 and close above relieves the pressure

  • More resistance is a the 38.2 of 0.6895/0.6497 move at 0.6649

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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