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May 02 - 07:55 PM

AUD/USD - Gives Back Chunk Of Gains On Rise Of Risk Aversion

By John Noonan  —  May 02 - 07:10 PM
  • AUD/USD opens +0.50%, but well off post-RBA hike high at 0.6717

  • Risk aversion rises on banking US debt ceiling and global growth concerns nL1N36Z337nL1N36Z1N3

  • AUD/JPY fell 1.50% from the intraday high and weighed on AUD/USD

  • AUD/USD closed below the 21-day MA at (0.6679) and near 10-day MA at 0.6656

  • Resistance at the 200-day MA at 0.6732 may prove difficult to break

  • Support is at 0.6630 where it was before RBA surprise hike

  • Market will now position for FOMC decision late Wednesday

  • Fed expected to hike 25 bps, but the communication will be key nL1N36Y0XH

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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