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Feb 11 - 05:55 PM

AUD/USD - Outperforms On Commodity And EM Optimism

By John Noonan  —  Feb 11 - 05:28 PM
  • AUD/USD opens 0.41% higher at 0.7753 after trading as high as 0.7772

  • AUD up against all the major currencies despite subdued equity markets

  • Optimism commodities will remain in demand and elevated underpins sentiment nL1N2KH0YD

  • Demand for emerging market assets also supports as EM ETF (EEM) rose 1.06%

  • Minor resistance in AUD/USD at the Jan 21 high at 0.7784

  • Objective of move and next important resistance at 2021 high at 0.7819

  • Support at the 21-day MA at 0.7693 where buyers are tipped

  • Flows should be limited as much of Asia closed for LNY

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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