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Aug 15 - 07:55 PM

AUD/USD - Edges Lower Early Asia After Solid Gain Friday

By John Noonan  —  Aug 15 - 06:07 PM
  • AUD/USD rose 0.53% Friday after USD fell on weak US consumer sentiment nL1N2PK1OG

  • It is a touch lower in early trading, but still above 10-day MA at 0.7366

  • AUD/USD not trending, as 5, 10 and 21-day MAs bunched between 0.7360/66

  • Resistance is at last week's 0.7389 high and trend high at 0.7426

  • AUD/USD upside limited as half of Australia population under lockdown

  • Downside limited on dovish turn in Fed expectations after recent US data

  • Support formed at 0.7330/35 where it bottomed Thursday/Friday

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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