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Jun 22 - 07:55 PM

AUD/USD - Dragged Lower By Commodity Slide As Growth Fears Escalate

By John Noonan  —  Jun 22 - 06:35 PM
  • AUD/USD opens -0.72% after key commodities were slammed by growth fears nL1N2Y90M9nL1N2Y906S

  • It traded down to 0.6881 before USD gave ground after Powell testimony nL1N2Y924F

  • AUD/USD trending lower with the 5, 10 & 21-day MAs in a bearish formation

  • Resistance is at 10-day MA (0.6960) which has contained rallies since June 9

  • Support is at the June 14 low at 0.6850 and 2022 low at 0.6829

  • AUD/USD will remain under pressure while golbal growth concerns persist

  • Key in Asia will be AUD/JPY and moves in equities and commodities

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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