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Oct 12 - 07:55 PM

AUD/USD - Opens Barely Changed As Cross Flows Offset

By John Noonan  —  Oct 12 - 05:50 PM
  • AUD/USD opens virtually unchanged after recovering from a fresh 2-year low

  • Currencies were a mixed bag with GBP rising sharply - while JPY sold off nL1N31D23P

  • AUD/JPY buying underpinned while weak commodities & choppy capped nL1N31D05ZnL1N31D0DPnL1N31D2IN

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

  • Only a break above the 10-day MA at 0.6382 would ease downward pressure

  • Support is at the 76.4 of the 2020 low/high at 0.6099

  • AUD/USD may consolidate ahead of key US CPI later on Thursday

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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