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Sep 12 - 07:55 PM

AUD/USD - Opens Higher As Risk Rally Continues And USD Eases

By John Noonan  —  Sep 12 - 06:40 PM
  • AUD/USD opens +0.61% as risk rally and soft USD ahead of US CPI underpinned nL1N30J1MS

  • AUD/USD close above 21-day MA (0.6866) targets 50% of 0.7146/0.6699 @ 0.6917

  • Strong resistance at 0.6960/70 where the 100-day MA and 61.8 fibo converge

  • Support is at the 21-day MA at 0.6866 and 10-day MA at 0.6810

  • NAB business survey out today, but it unlikely going to be a market mover

  • The key event will be US CPI later today with market expecting improvement

  • A softer than expected US CPI would likely weigh on USD and support risk

  • If US CPI remains stubbornly higher it will support USD and weigh on risk

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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