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Oct 20 - 05:55 PM

AUD/USD - Ends Volatile Session Slightly Higher

By John Noonan  —  Oct 20 - 05:20 PM
  • AUD/USD opens +0.21% after giving back hefty gains made earlier

  • It traded up to 0.6356 when GBP led USD lower and risk assets rallied nL1N31L0VL

  • Hawkish Fed comments and rising US yields led to late USD rally nL1N31L1L8

  • AUD/USD rally stayed below key 21-day MA - which comes in at 0.6377 today

  • Support is at yesterday's 0.6229 low with buying tipped around 0.6200

  • Whippy outside day likely squeezed both long and short AUD/USD positions

  • Trend is still lower while 21-day MA caps rallies - a break would suggest bottom in place

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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