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Feb 29 - 10:55 PM

AUD/USD - Moves Higher As AUD/JPY Rallies In Upbeat Asia

By John Noonan  —  Feb 29 - 10:10 PM
  • AUD/USD opened flat at 0.6497 after whippy reaction to US PCE

  • After a quiet start it moved higher in Asia with AUD/JPY demand

  • AUD/JPY rose nearly 0.50% as the Nikkei hit a record high nL2N3FF01S

  • AUD/USD traded up to 0.6513 and is at session high into the afternoon

  • There was a muted reaction to China PMI -which were close to expectations nL2N3FF04B

  • AUD/USD resistance is at the 21-day MA at 0.6520 and 10-day MA at 0.6534

  • A break above 0.6535 would likely shift pressure to the upside

  • Support is at the Feb 13 low at 0.6443

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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