Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Oct 23 - 11:55 PM

AUD/USD - Solid Gain As Short Covering On Risk Currencies Underpins

By John Noonan  —  Oct 23 - 11:05 PM
  • AUD/USD opened -0.33% at 0.6334 after US yields reversed lower nL1N3BT1YV

  • AUD/USD moved higher after Monday's bullish outside day reversal

  • Funds covered short EM currency positions with the USD/THB falling 0.40% nL1N3BU04Q

  • AUD/USD performed and tested the 21-day MA at 0.6362 before stalling

  • Key resistance is at the 55-day MA at 0.6409 with offers ahead of 0.6400

  • A break above 0.6410 would confirm a bottom is in place

  • Support at 0.6285/0.6300 stubborn and frustrating AUD/USD bears

  • Key will be investor risk appetites in face of geopolitical risks

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved
!