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Aug 08 - 07:55 PM

AUD/USD - Steady Start After Falling Friday Following Strong US Jobs

By John Noonan  —  Aug 08 - 06:09 PM
  • AUD/USD reversed lower on Friday in reaction to strong US non-farm payrolls nL1N2PD1TL

  • USD and US yields surged higher, as concerns US economy was stalling faded

  • No reaction in Asia so far to softer China export and import data on weekend nL1N2PE01P

  • AUD/USD support is at last week's 0.7330 low and the July 28 low at 0.7317

  • Resistance is at the 10-day MA at 0.7372 and 21-day MA at 0.7386

  • Soft commodities and broad USD strength should keep AUD/USD under pressure

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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