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Jul 20 - 07:55 PM

AUD/USD - Opens Lower But Losses Limited As Risk Assets Bounce

By John Noonan  —  Jul 20 - 06:35 PM
  • AUD/USD opens 0.26% lower at 0.7330 after bottoming at 0.7300

  • Bounce on Wall Street and bottoming of US Treasury yields calmed volatility nL1N2OW2D4nL1N2OW1LK

  • USD remained firm despite reversals higher in some risk assets nL1N2OW1LV

  • AUD/USD in short-term trend lower as 5, 10 & 21-day MAs in bearish alignment

  • Resistance is at 10-day MA at 0.7416 and break would ease downward pressure

  • Bids tipped at 0.7300, but no technical support until 0.7230/35

  • The 76.4 of the 0.6990/0.8007 move is at 0.7230 and 200-week MA is at 0.7235

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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