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Feb 29 - 07:55 PM

AUD/USD - Opens Flat After Rally Failed Despite Soft US Yields

By John Noonan  —  Feb 29 - 05:50 PM
  • AUD/USD opens unchanged around 0.6495 after retreating from 0.6531 high

  • US yields eased in wake of as expected US PCE - but recovered late session nL2N3FE45W

  • Second straight close below 0.6500 leaves AUD/USD vulnerable

  • Support at Feb 13 low at 0.6443 in focus after 5-day streak of lower highs

  • Resistance is at the 21-day MA at 0.6520 and 10-day MA at 0.6533

  • Selling rallies while 0.6535 contains rallies is the favoured strategy

  • China in focus with official and Caixin Mfg PMI out today

  • China sentiment to have big impact on commodities and AUD

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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