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Nov 17 - 07:55 PM

AUD/USD - Opens Lower On Hawkish Fed And China Liquidity Concerns

By John Noonan  —  Nov 17 - 05:40 PM
  • AUD/USD opens -0.76% as USD broadly firmed on hawkish Fed expectations nL1N32D2IZ

  • AUD underperformed and fell against every major currency due to China bond market turmoil nL4N32D1YC

  • AUD/USD followed USD/CNH - which traded as high at 7.1787

  • AUD/USD fell as low as 0.6634 before CNH steadied and recovered against USD

  • Key AUD/USD support is at the 10-day MA, which rises to 0.6632 today

  • A close below the 10-day MA would suggest a top is forming

  • More support is at the 38.2 of 0.6170/0.6797 at 0.6557

  • Resistance has formed ahead of 0.6800 where selling is tipped

  • Key in Asia will be CNH and Asian equity moves

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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