By John Noonan — Jul 03 - 11:40 PM
AUD/USD opened 0.6815 after falling 1.25% on Friday
It traded to 0.6827 early before coming under pressure
E-mini futures fell 0.7% and weighed on AUD/USD and AUD/JPY
AUD/USD fell to 0.6796 before buyers returned and discourage further losses
AUD/USD is trading around 0.6810 heading into the afternoon session
Dalia iron ore is down 5.5% as global growth worries impacts demand
AXJ equity index is flat despite the strong lead from Wall Street
AUD/USD trending lower with the 5, 10 & 21-day MAs in a bearish alignment
It is likely going to remain vulnerable while growth concerns weigh
Resistance is at the 10-day MA at 0.6897 and break would ease pressure
Support is at the 50% of the 0.5510/0.8007 move at 0.6758
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary