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Aug 12 - 05:55 AM

AUD/USD - Close Key For AUD/USD Direction, Huge Expiry Factors, Option Clues

By Richard Pace  —  Aug 12 - 05:10 AM
  • AUD/USD has now breached it's rising 21-daily moving average at 0.7123

  • A close below on Wednesday opens potential for a deeper decline

  • Huge 1.2bln 0.7100 option expiry Thursday can draw nL1N2FE061

  • 3 Aug/24 July lows 0.7077/64 next support before 21 July low 0.7016

  • However, broader weak USD should help to limit overall losses

  • Resistance triple daily top 0.7242, 200-weekly moving average 0.7256

  • Option implied volatility heavy - consistent with AUD range trade


AUD=D3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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