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Aug 31 - 01:55 AM

AUD/USD - Maintains Bid Tone As Asian Equities Gain

By John Noonan  —  Aug 30 - 11:35 PM
  • AUD/USD opened 0.7367 after soaring 1.5% higher on Friday

  • It eased to 0.7346 when USD/JPY posted early gains to give USD bid tone

  • Buoyant Asian stock markets helped to underpin AUD/USD at lows nL4N2FX09M

  • China PMI mixed with manufacturing easing slighlt while services gained nL4N2FX0O1

  • AUD/USD traded as high as 0.7381 and was around 0.7365 into the afternoon

  • Resistance at the Dec 2018 high @ 0.7394 with sellers tipped ahead of 0.7400

  • Break above 0.7400 targets 76.4 of 0.8136/0.5510 move at 0.7516

  • RBA decision tomorrow, but shouldn't impact AUD/USD trend nL4N2FX09A

  • Support is at former resistance at 0.7275 and the 10-day MA at 0.7235

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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