By John Noonan — Aug 28 - 06:50 PM
AUD/USD opens +0.41% after holding in to gains made Monday in Asia
Slightly lower US yields and upbeat Wall Street also underpinned nL1N3A91PRnL1N3A9229
AUD/USD close above the 10-day MA (0.6423) gives pair a positive bias
Key resistance is at the 21-day MA at 0.6481 and last week's 0.6488 high
A close above 0.6490 would suggest trend-lower is over with bottom in place
The target of a 0.6490 break would be 38.2 of 0.6895/0.6365 at 0.6567
Support is at the Aug 17 low at 0.6365 and break would re-ignite trend lower
AUD/USD likely to consolidate ahead of key data this week - led by US jobs
Key in Asia today will be moves in Asian equity markets and AUD/JPY flows
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary