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Jun 07 - 07:55 PM

AUD/USD - Opens Higher As Risk Rally Wins Out After Whippy Session

By John Noonan  —  Jun 07 - 06:40 PM
  • AUD/USD opens +0.53% and was bets performing major currency Tuesday

  • It completed a bullish outside day after whippy reaction to 50 BP RBA hike

  • Price action suggest moves in risk assets main driver for AUD direction

  • Wall Street opened lower before rallying late and underpinning AUD nL1N2XU2BD

  • AUD/USD resistance is at the 200-day MA at 0.7257 and June 3 high at 0.7282

  • AUD/USD trending higher with the 5, 10 and 21-day MAs in a bullish formation

  • A close below the 10-day MA at 0.7194 would suggest easing momentum

  • Support is at the 38.2 of 0.6829/0.7282 move @ 0.7109 and 21-day MA @ 0.7096

  • Key today will be Tokyo AUD/JPY flows after cross rose 1.0% yesterday

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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