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Jul 24 - 01:55 AM

AUD/USD - Gains Fade As Asian Equity Markets Sink

By John Noonan  —  Jul 23 - 11:50 PM
  • AUD/USD opened 0.56% lower at 0.7100 and dipped to 0.7093

  • Broad USD selling emerged in early Asia and AUD/USD bounced to 0.7125

  • Early gains evaporated late in the morning when Asian equity markets slumped

  • AXJ equity index was down over 1.3% while E-minis gave back early gains

  • AUD/USD falling below 0.7100 heading into the afternoon session

  • A break below yesterday's low at 0.7090 would suggest upward momentum waning

  • Concerns over US-China tensions and other issues potentially weigh on risk nL3N2EV09N

  • A break above yesterday's 0.7163 high would restore upward momentum

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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