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Sep 06 - 07:55 PM

AUD/USD - Poised To Test 2022 Low After Bearish Outside Day

By John Noonan  —  Sep 06 - 06:45 PM
  • AUD/USD opens -1.12% after surging US yields sent the USD broadly higher nL1N30D1XRnL1N30D1OW

  • AUD/USD completed a bearish outside day and closed below support at 0.6770

  • The next level of support is the 2022 low made on July 14 at 0.6682

  • Hawkish Fed expectations and dimming global growth view weighs on AUD/USD

  • AUD/USD sellers are tipped at 0.6770 and 0.6790

  • It is trending lower with the 5, 10 & 21-day MAs in a bearish alignment

  • Only a break above the 10-day MA at 0.6833 would warn of bottom forming

  • Aus Q2 GDP today with market expected +1.0% Q/Q and +3.5% Y/Y

  • Impact of GDP on AUD/USD likely to be minimal

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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