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Jul 09 - 07:55 PM

AUD/USD - Opens Lower As Risk Aversion Interrupts Rally

By John Noonan  —  Jul 09 - 06:10 PM
  • AUD/USD opens 0.24% lower after failing to clearly break 0.7000

  • Rising COVID-19 cases and US politics weighed on risk assets nL1N2EG28WnL1N2EG13NnL1N2EG0UO

  • AUD/USD touched 0.7001 but sellers prevented decent follow-through higher

  • Support is at the 10-day MA at 0.6937 and 21-day MA at 0.6908

  • Resistance at 0.7000 and rising COVID-19 concerns make AUD/USD vulnerable

  • Break of 0.6900 would suggest top in place and 0.6800/0.7000 range to ensue

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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