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Aug 28 - 07:55 PM

AUD/USD - Holds On To Asia Gains In Quiet US Session

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

Refinitiv IFR Research/Market Commentary


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