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Aug 31 - 07:55 PM

AUD/USD - Opens Higher As AUD And NZD Outperform

By John Noonan  —  Aug 31 - 06:47 PM
  • The AUD/USD opens +0.26% after the AUD and especially the NZD outperformed

  • Risk assets closed flat to negative - but AUD & NZD demand remained strong

  • AUD/USD traded to 0.7343 before easing late when USD recovered

  • It closed above the 21-day MA at 0.7296 and that is now support

  • The next level of resistance is at the 55-day MA at 0.7395

  • Aus Q2 GDP today with market looking for +0.5% Q/Q and +9.2% Y/Y

  • Impact of GDP on AUD may be minimal as it pre-dates the COVID lockdowns

  • China Caixin Mfg PMI out today with market looking for 50.2

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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