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AUDUSD felt the weight of the broader bout...>

AUSSIE
AUSSIE: AUDUSD felt the weight of the broader bout of USD strength evident on
Wednesday, with the cross last trading at ~0.7660, although AUD outperformed the
NZD, with AUDNZD last at 1.0625.
- AUDUSD's hesitation ahead of 0.7784-0.7808 where key DMAs are situated
continues to hamper recovery efforts and has resulted in fresh 2018 lows. Bulls
now need a close above 0.7717 to gain breathing room and above the 200-DMA
(0.7808) to point to an extension. While the 200-DMA caps bears remain focused
on 0.7500-0.7580 with fresh 2018 lows adding weight to their case.
- Fresh 2018 lows for AUDNZD lacked follow through with the bounce seeing
initial focus back on 1.0652. Bulls now need a close above 1.0652 to ease
bearish pressure. While 1.0652 caps immediate bearish focus remains on the LT
rising daily TL off 2015 lows coming in around 1.0464 today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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