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Sep 22 - 11:55 PM

AUD/USD - Heavy Tone But Bids At 0.7220/25 Holding For Now

By John Noonan  —  Sep 22 - 11:16 PM
  • AUD/USD opened 0.12% higher at 0.7241 as risk rally trumped hawkish Fed nL1N2QO28G

  • After trading 0.7244 - the AUD/USD came under gentle pressure in Asia

  • It traded to 0.7223 and heading into the afternoon it is 0.7225/30

  • The 0.7220/25 level has held the past 4 days as bids tipped at 0.7220

  • A break below 0.7220 targets the 76.4 of the 0.7106/0.7477 move at 0.7194

  • AUD/USD likely to remain vulnerable after Evergrande relief rally runs its course

  • Divergent central bank expectations between RBA and Fed should limit upside

  • Resistance is at 10-day MA at 0.7289 and break would ease downward pressure

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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