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AUD: AUDUSD Recovers To Above 68c After Softer Risk Appetite Weighs

AUD
RegionGlobalBulletAPACForeign Exchange BulletsAustraliaMarkets

AUDUSD reached a low of 0.6783 as US equities sold off and the US dollar rallied but recovered to 0.6807 as both of these trends reversed. Softer commodity prices also weighed on the Aussie. AUDUSD was down 0.1% on the day but with the USD index up 0.1%, it was one of the worst performers in the G10. It is currently trading around 0.6809.

  • With AUDUSD finishing last week above 68c, the trend remains firm. Initial resistance is at 0.6839, January 2 high, while key resistance is at 0.6871 and a clear break of this would confirm the resumption of the bull cycle. Initial support is at 0.6726, 20-day EMA.
  • Aussie was stronger against the yen, as the BoJ left policy on hold. The pair is up 0.8% to 97.97 after a peak of 98.31 and is currently at 97.93.
  • AUDNZD rose to a high of 1.0935 before trending down to 1.0913 to be down 0.1%. AUDEUR fell 0.1% to 0.6098 after a low of 0.6087. AUDGBP is down 0.4% to 0.5110.
  • Equities were weaker with the S&P down 0.2% and Euro stoxx -1.5%. Oil prices were little changed with Brent down 0.2% to $74.72/bbl. Copper fell 0.3% and iron ore is lower at around $91/t.
  • Today preliminary September Judo Bank PMIs print but the focus of the week will be on Tuesday’s RBA decision.
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AUDUSD reached a low of 0.6783 as US equities sold off and the US dollar rallied but recovered to 0.6807 as both of these trends reversed. Softer commodity prices also weighed on the Aussie. AUDUSD was down 0.1% on the day but with the USD index up 0.1%, it was one of the worst performers in the G10. It is currently trading around 0.6809.

  • With AUDUSD finishing last week above 68c, the trend remains firm. Initial resistance is at 0.6839, January 2 high, while key resistance is at 0.6871 and a clear break of this would confirm the resumption of the bull cycle. Initial support is at 0.6726, 20-day EMA.
  • Aussie was stronger against the yen, as the BoJ left policy on hold. The pair is up 0.8% to 97.97 after a peak of 98.31 and is currently at 97.93.
  • AUDNZD rose to a high of 1.0935 before trending down to 1.0913 to be down 0.1%. AUDEUR fell 0.1% to 0.6098 after a low of 0.6087. AUDGBP is down 0.4% to 0.5110.
  • Equities were weaker with the S&P down 0.2% and Euro stoxx -1.5%. Oil prices were little changed with Brent down 0.2% to $74.72/bbl. Copper fell 0.3% and iron ore is lower at around $91/t.
  • Today preliminary September Judo Bank PMIs print but the focus of the week will be on Tuesday’s RBA decision.